According to reports, the at-the-pump price of RON 95 and RON 97 petrol as well as diesel is expected to be lowered at the end of the year. Deputy finance minister Datuk Ahmad Maslan said the new prices are due to be announced on Dec 31.
In an earlier report, Maslan had indicated that prices of petrol and diesel fuels may continue to drop until January. Average weekly global oil prices had been dropping up to the first week of December. “According to the trend this week, RON 95 will fall further, RON 97 will fall further, and diesel may fall further from RM2.23 per litre at present,” he said then.
Since fuel subsidies were discontinued at beginning of December, prices are now based on a managed float system, which will be reviewed monthly. Current retail pricing for RON 95 is RM2.26 per litre (down four sen from previously), while RON 97 is priced at RM2.46 per litre (down nine sen). Diesel, meanwhile, is priced at RM2.23 per litre (up three sen).
The government also announced that a simplified version of the formula used to calculate the price of RON 95 petrol and diesel would be made public soon, allowing the rakyat to know exactly how fuel prices are derived.
Meanwhile, Maslan said he hoped traders would reduce prices of daily essentials in line with the drop in petrol prices. He said that there had been no adjustments despite the lowering of fuel prices at the beginning of December.
“The problem is, while fuel prices have been reduced, manufacturers and traders still maintain their old prices or raise their prices, even as they are able to offer lower prices with their business costs having come down,” he told reporters at an event yesterday.
Yea!! Drop 4sen again!!
I am driving a Macan, I careless about petrol price.
I have been with Shell for the past 30 years and I am involved with pricing/finance. The exact formula is as below
If Global Brent is USD66.00/barrel = RM221.10
221.10/159 = RM1.39/ltr
Before refining charge and petrol dealer profit is RM1.39/ltr
Our Government keeps on lying to us. Now it looks like the poor will be subsidising the Government for their lavish lifestyles.
There is no way petrol can even be more than RM1.80 as Brent Crude has fallen to its lowest. If they are truly doing a proper float system, the actual price is RM1.39 per litre if per barrel is US$66. The maximum for refining cost is 10 sen per litre. That is the Maximum ceiling for refining based on global refining charges. Petrol dealer profit usually 10 sen per litre.
This is typical Malaysia. Government throw saki baki scraps from the dinner table, the rakyat, like dogs are forced to pick the leftovers and eat. The recent reduction of 4 sen per litre is a big joke and a big rip off to the rakyat.
The recent reduction 4 sen per litre is a slap to all Malaysians.
How much can most people save? Most people full tank is 40 litres. That means for a full tank you save ONLY RM1.60
Whilst Ministers wives are buying Birkin handbags costing minimum RM100,000 to RM500,000 each and one particular has about 30 different Birkin handbags, we are told that we are given savings of RM1.60 for each full tank (4 sen reduction recently)
If oil drops below US$60 per barrel, the price should be RM1.10 per litres.
7 orcs dislike the truth!
It is truth, but our government have too many things to subsidize. Companies taking turns to beg for this beg for that.
I would have believed you if you you dont hide behind the skirt.
More orcs are disliking your comment!
How about spending some money to improve your English and perhaps a name change?
Come to drop fuel price wait this and that(calculation bla bla bla).
When increase price immediate(after 12am to date).
Increase 20sen immediately, drop fill cents somemore need to wait every month !!!
Lousy Govt so call back-up plan… just admit it cronies that playing with the industry.
Do they have any Backup Plan in anything or just one shoddy plan only?
This car is rubbish. Buy a Exora, that is more worth it. Proton is the best gift UMNO has given to us Malaysians.
Thank you UMNO. Thank you for caring for us Malaysians. Please do not drop car prices. Car prices are already affordable.
Those who whine are lazy people who do not want to work hard for more money. Then they blame the Government.
Please also do not reduce oil prices because oil is cheap in Malaysia.
Terimakasih BN. We all love you BN. And in BN, thank you UMNO. UMNO cares for us all in Malaysia and UMNO gives us cheap petrol.
Don’t be lazy and work harder!
Malaysians drive Axia/Myvi while the BN cronies drive Maserati.
What car is rubbish? Iriz or Maserati?
It’s the M that owns Petron. Have not figure out it?
Kedai mamak mana ada turun roti harga 4 sen dei!
8 sen turun, PUJILAH KERAJAAN!
OMG…”Managed float system” …come on lah, u all dunno managed loh, just let it be auto float. Why still 1 to wait end of month? just make it below RM2 1st then u only observed the situation. CHOWCIBAI.
xhabis2 dorang announce…bosan
Im happy to hear this news but im aware of it that they will took the money in the form of GST.
The real problem is that lower 4 cents expect a LOT.
RON 97 instead of RON 96. LOL
WTF! Increase 20 cent, Drop 3 cent!
I think price drop can never more than, say 8 sen coz dealers’ profit is 12 sen/L else dealers will protest for suffering losses on their on hand fuel.
Hidden due to lowcomment rating. Click here to see.
Ya..Good Job Najib bringing world oil price down thus making our fuel cheaper
Many thanks to all Government Staff who involve to assist in reducing world oil price, and this will benefit all Malaysian.
Hopefully, Najib can reduce price further, since the price at US equivalent circa RM 1.90.
/sarcasm
It’s stupid!
Current G is sux !
Extremely sux!
Oil is belongs to all Malayhsian.
But Oil price up, no extra subsidy.
When Oil price up, collect Malaysian money!
The oil price floating conspiracy will
doom our economy!
Super Inflation coming!
Harga minyak turun, kenapa harga kangkung tak turun?
#pujikerajaan
Yes thanks for Government,
#1 Pay GST 6% (coming years will be addition)
#2 Car taxes (AP tax and excise duty and hidden taxes).
#3 World fuel drop (M’sia drop fill cents), fuel going up (Bolehland going up price immediately)
#4 BR1M wait for applications to be accepted (like forever)
#5 Price going up will never went down.
Thanks to Govt, the ministers and cronies.
Maserati Official is the official BN Cybertrooper for PT.
Every year Paul Tan will come out with awards, please dont forget to give 2 awards out to the 2 most active UMNO Cybertroopers. KZM and Maserati (Official)
OMG…happy with the dislikes…Want to make it balance, just mentioned “sarcasm”, then make ppl like u.
i cannot imagine when PEtrol = USD110 per barrel.
our Petrol sure above RM3.50/liter unsubsidizied.
@ USD110/barrel, Goverment can ear more net profit.
Government should implement Ceiling Price, say RM2.99/liter.
if not, inflation could be lost of control and make Malaysia Ringgit Drop further!
The REsult:
1. Petrol drop, ringgit Value drop.
2. PEtrol increase, ringgit value also drop!
fuq ma life.
Dear Government. Please share the calculation mechanism. Malaysian are not that st*p*d.
https://my.news.yahoo.com/explain-rm274-million-collected-hidden-fuel-taxes-rafizi-035026989.html
It’s consipiracy and scandal !
Keep spinning!
G like Roti Prata!
They are blood sucker!
Change them!
Let’s capable ppl rules the land!
Tipu raktat ah? Masa naik tak beri dateline…tiba tiba naik. Masa nak turun harga kena tunggu untuk pengumuman. Come onlah don’t give excuses! People are not fool!
ya.. down… down one cent also down right? Do you need to tell? we all know our mum is a women!
Crude Oil < USD 60
60 * 3.5 / 120 = RM 1.75 / L
http://www.investing.com/commodities/crude-oil-streaming-chart
Add Refinery Cost 10%
RM 1.75 / L * 1.1 = RM 1.925 / L
RON 95 should drop RM 0.30
:p
my friend
your conversion from barrel to liter is wrong. You’re using fluid instead of oil with different density. Here is the right conversion.
1 US bbl (fluid)=119.2 Liter
1 US bbl (oil) = 158.9 liter
this is the technic from government, see at above, still got people happy with it, Malaysian people is really easy to fool
I’ve reverse calculated gas prices with US prices and the result is a below
Michigan gas price (Midgrade) = $2.14USD
State of Michigan gas tax = 37.4 cents
Price after tax = 1.77USD per gallon
1 gallon = 3.78 Litres
1 USD = RM3.50
Price per litre in RM; RM6.195 / 3.78L = RM1.64/L
Means government untung 62 cents per litre.
Forgot to add my references;
Gas tax
http://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States
Current gas prices
http://www.kalamazoogasprices.com/index.aspx?fuel=B&area=Kalamazoo&area=Westwood&area=Kalamazoo&area=Westwood&area=Kalamazoo&area=Westwood&area=Kalamazoo&area=Westwood&area=Kalamazoo,Westwood,Kalamazoo,Westwood,Kalamazoo,Westwood,Kalamazoo,Westwood
Currency exchange rate
http://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=MYR
Price for Ron 91….
Imagine @ RM1.64 already included the ‘gas tax’.
Our govt. is the number one supreme ‘Ah Long’ & international conman. First they resort to extortion in the form of extremely high car taxes; then under the pretext of a managed fuel prices, they continue to con the rakyat by reaping huge profits by inflating the oil prices.
If by my calculation, each 4 cent drop in petrol price.
I can save a lot, maybe in 20 years I can afford to buy a Perodua or Proton car, just with the 4 cents savings only
Ha,ha,ha….
I think that Minister Ahmad Mazlan share the same thought as you, unfortunately he does not owned P1 or P2 cars.
That’s why your name pun cendol, man! Stick to your desert vending job on the kapchai than do calculations alright ;-)
OMG…hahaha….ini math score A punya…lol
For price to come down, 2 things must happen. Petrol price reduction must be significant in line with the world crude oil price and fuel related products like Transportation, electricity and cooking gas must come down…So when is this happening???? The govt must show the way first……
The Gomen show us the way? No need lah, the people will show the Gomen the way.
last time already said to drop this week, last week.. but didn’t materialised. this time sure ka…? or just giving out false hope to rakyat… like usual..
woi, ini bangang ke bangsat announcement.. apsal nak tunggu.. ngapa tak boleh buat cam minyak naik.. pukul 6 ptg announce, 12am minyak naik 20 cents (kasi kite 6 jam ke prepare).. sekarang bile mau kasi turun, tunggu la for further announcement.. ingat kite budak lagi ke..
minyak ron 97 turun pon xde gune.bnyk stesyen mnyk ron 97 punye pam sudah hilang ataupon under maintenance.hahahahahaha.
Please reduce diesel price kaw-kaw…this is the most beneficial for common people. Regardless you own car or not, diesel is the major excuse for price increase of any products and services in Malaysia.
Harga Petrol dijangka turun tahun depan. Disember 2015 ???
What a way to gain political mileage….
Anyway this is not gonna last long, current oil price does not reflect demand/supply theory… Its a political game to hurt someone(russia???)
I believe we see dis til 1st quarter of 2015,after that the upward trend will start… So lets enjoy pumping ron 97 to our cars for the time being !
Expected to drop??? …Not surely drop! Stupid Ahmad Maslan.
fuel turun, harga makanan kat kedai mamak tak turun lagi
don’t dream the expected price drop significantly bcoz Petronas expected to lost 30% of its profit since 01-Dec.
Their incompetency in managing costing puts Rakyat livelihood at stake… same as Proton, MAS, TM, IWK, TNB & other GLC’s… Even now MAS hired a caucasian, but guess this caucasian also can’t do much to revive MAS as cronies rooted deep down into MAS for decades…
As we speak’, the oil price now is USD 54.95 AND STILL DROPPING!
Making a mockery of rakyat will have backlash on G, what it so difficult so calculate and take so long? When G had invested millions of high end computers to do super fast computation plus you have pool of talent people from (Shell,Petronas, Petron, BH..) for corporations and G agencies. But when you have variable cannot remove from the equation and not transparent.. WOW. “Houston we have a problem”..”Houston..come in” static.. “Mission Control repeat.. it that you Mazlan”
Would you reduce your salary or allowances if the cost of living reduced ? Knowing human (especially those of you in Malaysia), this situation will never ever happen!!
Fuel price goes up or down now – wouldn’t be much help to ordinary Malaysians. The damage has been done – the regular prices of goods are never going to come down – much. We are all already zombies.