PETALING JAYA: Fuel prices for the first week of July are down again – for the fifth week in a row.

RON95 and RON97 petrol will be reduced by 2 sen and diesel by 4 sen from midnight Wednesday to July 5.

RON95 petrol will now retail at RM1.89 per litre, RON97 at RM2.15 and diesel at RM1.84.

This was announced on RTM1 and posted on the Domestic Trade, Cooperatives and Consumerism Ministry's Twitter account on Wednesday evening.

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

Prices of petrol and diesel had been placed on a managed monthly float system since Dec 1, 2014 following the removal of fuel subsidies.