The Domestic Trade, Cooperatives and Consumerism ministry (KPDNKK) has announced that come tomorrow (March 1, 2015), RON 95 petrol will be priced at RM1.95 a litre (+25 sen), RON 97 petrol at RM2.25 a litre (+25 sen) and diesel at RM1.95 a litre (+25 sen).
As in February, RON 95 and diesel are similarly priced. The price jumps follow the sharp uptrend in global crude oil prices, with Brent currently in the US$60 (RM217) per barrel ballpark, from a US$50 (RM181) low in January. This is the first monthly gain for Brent since June 2014, and the greatest monthly percentage rise since May 2009.
Subsidies for RON 95 petrol and diesel were discontinued exactly three months ago, and according to KPDNKK, their prices are, like RON 97 petrol, derived based on a managed float system, and will be reviewed monthly.
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AI-generated Summary ✨
Comments express frustration over the recent petrol price hike of 25 sen to RM1.95, with many criticizing the government's transparency and methodology in setting fuel prices, accusing it of overcharging despite Malaysia being an oil producer. There is concern that global oil price increases may cause even higher pump prices, leading to cost-of-living increases across goods and services. Some commenters blame government corruption, policies, and mismanagement for Malaysia's high fuel prices compared to countries without oil reserves, and highlight the health and environmental impacts of low-grade fuels. Others feel the government’s price adjustments are inconsistent, with delayed decreases and rapid increases, and criticize the reliance on a non-transparent formula. Overall, sentiments are predominantly negative, with widespread dissatisfaction about government handling of fuel prices and economic issues.