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KUALA LUMPUR, Nov 15 -- The retail price of RON97 petrol will go up by 13 sen to RM2.70 sen a litre for the fuel price week Nov 16-22.

In a statement today, the Ministry of Finance said the retail prices of RON 95 and diesel, however, will remain the same at RM2.08/litre and RM2.18/litre respectively.

Based on the calculations under the Automatic Pricing Mechanism (APM), the retail prices of RON95 and diesel for that period should be RM2.26/litre and RM2.31/litre respectively, it said.

"However, the retail prices for both fuels are maintained at RM2.08/litre and RM2.18/ litre in line with the government's decision to stabilise petrol prices for petroleum products and reduce the cost of living," it added.

The statement said the cost incurred by the government to provide the subsidies for the fuel price week (Nov 16 to 22) amounted to RM120.58 million.

-- BERNAMA