Fuel-Wallet GaugeThe government has reduced the price of fuel in Malaysia by RM0.10 per litre 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.

The following are the new prices for petrol and diesel in Malaysia, effective tomorrow:

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

This means that for a full tank of 50 litres, you get to save RM5 per fuel tank or between RM20 to RM30 depending on whether you fill up between 4 to 6 times a month. I hope this means something to those that are needy out there, but as for me I do not feel like I will be saving much. Selamat Hari Raya!