RON97 will drop by 36 sen and will retail at RM1.74 per litre, while RON95 is down 38 sen to RM1.44 per litre.
The price of diesel will also drop 12 sen and will retail at RM1.75 per litre.
The new rates will be in effect from tomorrow till March 27.
According to the finance ministry, the drop in fuel prices is due to the dispute among oil-producing nations and the Covid-19 pandemic which has reduced demand.