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The price of gasoline will drop from one sen from midnight tonight, while that of diesel will increase by one sen.
The Ministry of Finance confirmed that RON95 gasoline would cost RMB 1.92 per liter, while RON97 gasoline would cost RMB 2.22 per liter. Diesel will cost 0.05 RMB per liter.
Putrajaya had reinstated the floating mechanism of the prices of gasoline and diesel last Saturday.
The price of crude oil has fallen since its highest level of the year in October.
The Brent crude oil price currently hovers around $ 60 per barrel.
Putrajaya will cap the price of RON 95 to RM2.2 per liter if the price of crude oil were to rise.
The cap will only be applicable until the imposition of the new targeted grant program later this year.
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