Petrol prices are on the rise as the average price of processed refined petroleum products in the world market has increased compared to the previous week, from US$62 per barrel to US$63 per barrel for RON95 petrol. However, unlike the week before when pump prices rose by 4 sen, the increase this week is 1 sen per litre for both RON95 and RON97. The minimal increase, which takes place after midnight today, is due to the strengthening factor of Malaysia ringgit against the US Dollar during this period.

Diesel has also gone up by 1.4% from US$73 per barrel to US$74 per barrel. This should increase the retail price of diesel products by 1 sen per litre (based on calculations under the APM formula) and the retail price of diesel should be RM2.20 a litre. But keeping to its promise, the government is maintaining the price of Euro2M diesel at RM2.18 per litre, with 10 sen extra charged per litre for the cleaner, better Euro5 grade.

If you’re just topping up the fuel tank, perhaps it’s not really worthwhile to head for the station this evening. Whatever you save might be wasted away in the Friday evening jams.

If you spend RM30 or more at any BHPetrol station, you can participate in the company’s latest ‘Win Cash RM300,000’ promotion that is on until March 31, 2019. This might be your lucky year as you can win up to RM100,000 in cash as well as 100,000 ePoints. Click here for more information on the promotion.

[Chips Yap]

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