PETALING JAYA: Fuel prices are going up by 5 sen across the board for the month of July.
Petron Petrol Dealers Association President Alang Zari Ishak confirmed the 5 sen increase when contacted by Star Online today.
This marks the first increase in pump prices since April.
The Domestic Trade, Cooperatives and Consumerism Ministry decided to set the prices of petrol and diesel on a managed float system from Dec 1, 2014 following the removal of fuel subsidies.
This takes into account factors like the global price of crude oil and the country’s currency strength in the previous month.
Paul Tan’s Automotive News reported that RON 95 petrol will be priced at RM1.75 per litre, RON 97 at RM2.10, diesel at RM1.60 and Euro 5 diesel at RM1.70.