KUALA LUMPUR – Petrol and diesel prices for March will rise 25 cents a litre starting today.
Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek said the new retail price of RON95 petrol would be RM1.95 per litre, RON97 at RM2.25 per litre, and diesel at RM1.95 per litre.
In a statement this evening, he said the price was determined based on the average cost price of the product during February 2015 and currency exchange rates.
“The government will monitor the development of the market price of the products’ costs and currency exchange rates every time to set the retail price of petrol and diesel for the following months,” said Hasan.
The minister reminded all oil companies and petrol station operators to comply with the new pricing.
“Stern action will be taken against those who violate the rules relating to the new prices set by the government,” he added. – Bernama