Deputy finance minister Datuk Ahmad Maslan has tweeted that come tomorrow (January 1, 2015), RON 95 petrol will be priced at RM1.91 a litre (-35 sen), RON 97 petrol at RM2.11 a litre (-35 sen) and diesel at RM1.93 a litre (-30 sen).

The price drops follow the current downtrend in global crude oil prices. Brent, for instance, has fallen over the past month by almost US$20 (RM70) to comfortably below US$60 (RM210) a barrel – a five-year low.

Subsidies for RON 95 petrol and diesel were discontinued exactly a month ago, and according to the Domestic Trade, Cooperatives and Consumerism ministry (KPDNKK), their prices are, like RON 97 petrol, now derived based on a managed float system, and will be reviewed monthly.