PETALING JAYA: Petrol prices for RON95 and RON97 will go up by one sen per litre beginning Saturday (Feb 16), while diesel prices remain unchanged.

The Finance Ministry said the prices of RON95 and RON97 will be at RM1.98 per litre and RM2.28 per litre, respectively, while the price for diesel remains at RM2.18 per litre.

The prices, set according to the Automatic Pricing Mechanism (APC), will be effective from Saturday (Feb 16) to next Friday (Feb 22).

The ministry added that the price of refined petroleum product in the global market has increased compared with the previous week from US$62 per barrel to US$63 per barrel for RON95, while diesel has increased from US$73 per barrel to US$74 per barrel.

The ministry said that according to the global prices, the retail price for diesel should have increased by one sen per litre to RM2.20 per litre based on the APM.

"However, in line with the promise made by the Pakatan Harapan-led government to stabilise the retail price of diesel to RM2.18 per litre, the price of diesel between Feb 16 and Feb 22 remains at RM2.18 per litre, not RM2.20 per litre" it added.

The weekly fuel pricing mechanism came into effect in January this year.