The retail price of RON 97 petrol will be RM2.60 per litre effective tomorrow, July 5. This is a 20 sen reduction from the previous RM2.80 per litre.
This adjustment comes nearly a month after the pump price of RON 97 had been lowered by 10 sen from RM2.90 per litre. Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said that the reduction was made in line with the dip in the average global oil price.
Unlike the regulated and subsidised RM1.90 per litre RON 95, the pricing of RON 97 is based on a managed float, whereby the price is determined according to market forces.
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AI-generated Summary ✨
Comments express mixed sentiments about the petrol price reduction, noting the decrease from RM2.70 to RM2.60 per litre for RON97 while observing that RON95 prices remain high or have increased. Many highlight that the price change is minimal and may be influenced by political promises ahead of elections. There is frustration over continued high costs for lower-grade fuels and a call for more sustainable solutions like improving public transportation. Some comments criticize government subsidies, claiming they benefit the rich and lead to overconsumption and traffic congestion. Others compare local prices to neighboring countries, pointing out that Malaysia still pays relatively low prices for fuel. Overall, the tone ranges from hopeful to critical, emphasizing the need for better long-term economic and environmental policies.