Down Slap in Malaysian petroleum Prices

Friday, September 26, 2008

Down Slap in Malaysian petroleum Prices

While the prices are increasing in every other country due to a recent price hike but it seems everything is coming back slowly to where it was and The Malaysian Government have managed to reduce the prices of it's petroleum sector.

In a given statment, it was said that it is reduced by RM0.10 per liter across the board for all three types of fuel.

Minister of Domestic Trade and Consumer Affairs Datuk Shahrir Samad said the government could only manage a RM0.10 reduction because although crude oil prices have dropped, the ringgit has depreciated against the US dollar.

He added that according to calculations the government could only reduce prices by RM0.07 sen but decided to increase subsidy by another RM0.03 sen to make it a total of a RM0.10 price reduction. It would be interesting to see how this is calculated.

So the new Prices are

Fuel Old Price Reduction New Price
RON97 RM2.55 RM0.10 RM2.45
RON92 RM2.40 RM0.10 RM2.30
Diesel RM2.50 RM0.10 RM2.40