The Domestic Trade, Cooperatives and Consumerism ministry (KPDNKK) has announced that come tomorrow (February 1, 2015), RON 95 petrol will be priced at RM1.70 a litre (-21 sen), RON 97 petrol at RM2.00 a litre (-11 sen) and diesel at RM1.70 a litre (-23 sen).
RON 95 and diesel are now similarly priced. The price drops follow the current downtrend in global crude oil prices, with Brent currently hovering around the US$50 (RM182) per barrel mark.
Subsidies for RON 95 petrol and diesel were discontinued exactly two months ago, and according to KPDNKK, their prices are, like RON 97 petrol, now derived based on a managed float system, and will be reviewed monthly.
