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 reveal mixed reactions to the petrol price decrease, with some expressing satisfaction about the lower RM2.60 per litre for RON97, while others highlight ongoing issues like perceived unfair subsidies, rising costs of living, and political frustrations. Many criticize the minimal 20 sen reduction, believing it insufficient and questioning government policies on subsidies and taxation. There’s also concern about the impact on local industries, fuel quality, and long-term economic sustainability, with some urging for a more equitable and market-driven pricing system.