Its 7 June 2018, Thursday which means it’s the first fuel adjustment under the new Pakatan Harapan Government. The Ministry of Finance (MoF) announced earlier that the Government will take measures to stabilise fuel prices, in line with the coalition’s manifesto for the 14th General Elections.
Effective 7 to 13 June 2018, RON95 and diesel Euro 2M will remain at RM2.20 and RM2.18 per litre respectively – unchanged since 22 March 2018. RON97, however, will see an increase of 19 sen to RM2.66 per litre after its subjected to a floating price mechanism as instructed by the MoF.
The sharp increase of RON97’s retail price, despite with zero-rated GST is attributed to the steady recovery of global crude oil prices over the past four months. As of today, crude oil prices stand at US$65.52 per barrel.
Higher grade fuels like Petron Blaze RON100 also remains unchanged from its previous price point RM3.08 per litre. As for diesel Euro 5M, it will continue to carry a 10 sen premium over the Euro 2M pump price. Diesel Euro 5M is still priced at RM2.28 per litre.