The prices of RON 95 petrol and diesel are expected to drop to around RM1.90-1.95 a litre tomorrow, deputy finance minister Datuk Ahmad Maslan tweeted yesterday. He said an official announcement will be made by the Domestic Trade, Cooperatives and Consumerism ministry (KPDNKK).

Since fuel subsidies were discontinued at the start of December, prices are now based on a managed float system, which will be reviewed monthly. RON 95 petrol is currently priced at RM2.26 per litre (down four sen from before), while RON 97 petrol 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 earlier this month 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. Expect some kind of announcement on fuel prices very soon.