RON97 Up By 20sen Effective 5th May 2011

The price of RON97 petrol will go up by 20sen to RM2.90 per litre by midnight tonight. However, the price of RON95 remains unchanged at RM1.90 per litre. The last price increase for RON97 was on 2nd April 2011, which was also up by 20sen to RM2.70. RON97 price is floating according to the prevailing oil market price. The recent hike was mainly due to the crisis in the Middle East. The world's average crude oil prices as at 1st April and 29th April 2011 were USD111 and USD121 per barrel, respectively. If it is keep going on like this, i think it'll just be a matter of time before RON95 would increase as well. Let's hope that it won't continue in this direction.