PETALING JAYA: Fuel prices are up across the board for the fourth week of January.

The prices of both RON95 and RON97 will increase by six sen per litre, while diesel will go up by 12 sen.

With the increase in petrol prices, RON95 would now retail at RM1.98 per litre, RON97 (RM2.28) and diesel (RM2.17), the Finance Ministry said in a statement on Friday (Jan 18).

The new prices would take effect from 12.01am on Saturday (Jan 19) until Jan 25.

This increase follows the global prices of refined products which have showed an upward trend, compared with the previous week, that is from US$60 per barrel to US$63 per barrel for RON95, and from US$68 per barrel to US$72 per barrel for RON97.

The weekly fuel pricing mechanism was reintroduced on Jan 5 under the new Automatic Pricing Mechanism (APM).

Under the APM, weekly fuel prices are announced every Friday and will remain in force for one week.