PETALING JAYA: The price of RON97 petrol is down by 19 sen per litre while RON95 and diesel prices remain the same for the following week.

The Finance Ministry said the price of RON97 petrol would be RM2.60 per litre beginning Saturday (Oct 5) until Oct 11, down from RM2.79.

Prices of RON95 and diesel will stay at RM2.08 per litre and RM2.18 per litre respectively.

"Based on the calculation under the Automatic Pricing Mechanism (APM), the retail prices for both RON95 and diesel should be RM2.30 per litre and RM2.34 per litre respectively," it said a statement Friday (Oct 4).

The ministry said this was a decrease from the previous week at RM2.49 a litre for RON95 and RM2.39 a litre for diesel.

It added that the estimated subsidy to be borne by the government between Oct 5 to Oct 11 would be about RM101.52mil.

The weekly fuel pricing mechanism was reintroduced on Jan 5 under the APM.

Under this system, fuel prices are announced every Friday and remain in force for one week.