Petrol prices will go down by one sen as of midnight tonight while the price of diesel will go up by one sen.

The Finance Ministry confirmed that RON95 petrol will cost RM1.92 per litre, while RON97 petrol will cost RM2.22 per litre. Diesel will cost RM2.05 per litre.

Putrajaya had reinstated the weekly petrol and diesel price floating mechanism last Saturday.

Crude oil price had plunged since hitting an all-year high in October.

The Brent crude oil price is currently hovering around the US$60 per barrel mark.

Putrajaya will cap RON95 price at RM2.20 per litre should crude oil prices increase.

The cap will only be applicable until the new targetted subsidy scheme is imposed later this year.