RON95 and RON97 prices down 10 sen

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PETALING JAYA Petrol prices have dropped for the third week in a row.

RON95 and RON97 will go down by 10 sen per litre. Diesel is also down by 13 sen.

The domestic trade, cooperatives and consumerism ministry posted the new weekly fuel prices on Twitter and Facebook.

The price of RON95 petrol will be RM2.01 per litre compared with RM2.11 last week.

The price of RON97 petrol will be RM2.29, down from RM2.39 per litre last week.

The price of diesel is RM1.95 compared with RM2.08 per litre last week.

The new prices come into effect from midnight tonight and will remain in effect until May 17.

The weekly fuel pricing mechanism came into effect from April. Previously, fuel prices were announced at the end of every month.

The prices of petrol and diesel had been placed on a managed monthly float system since Dec 1, 2014, following the removal of fuel subsidies.

Global oil prices have been on a downtrend in recent weeks due to record output by the US shale oil industry, according to news reports.