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.
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AI-generated Summary ✨
Comments mainly focus on the transparency and justification of fuel prices, with some critics questioning the formula and market mechanisms behind the subsidized fuel pricing. Many express skepticism about how the government calculates prices, citing lack of clear data and concerns over inflation in goods and services despite the recent price drops. There is also discussion on Malaysia's oil production capabilities and currency depreciation, which affect fuel costs. Some comments highlight the broader economic impact, including high car prices, electricity tariffs, and comparisons with other countries’ fuel pricing policies. Overall, sentiments are mixed, with some appreciating the price reduction as a positive move, while others criticize it as insufficient, delayed, or manipulated, reflecting underlying frustrations over transparency and economic fairness.