Here in Malaysia, there are two grades of petrol, RON 95 and RON 97. RON 95 is at RM1.85 a litre while RON 97 is at RM2.10 a litre but beginning Tuesday (today) the price of RON 97 has been increased by 5 sen and will now cost RM2.15 per litre.
RON 97 is not subsidized by the government and reflects the price of petrol in the global market. Vehicles not registered in Malaysia can only use RON 97.
It was reported on July 16 that the government had decided to withdraw the petrol subsidy for RON 97 and subject it to a managed float.
Price of RON 97 would be determined by an automatic pricing mechanism.
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