Prime minister Tun Dr Mahathir Mohamad has said that the weekly fuel price system, in place since March 2017, will be discontinued, adding that weekly price changes were not good for both petrol station operators and the public. He was answering questions from the media at the just-concluded Pakatan Harapan presidential council meeting.

In a press conference yesterday evening, Mahathir said that fuel prices will be maintained, without elaborating if the weekly price mechanism will be scrapped. “No increase or decrease, if the global oil prices go up, the government will subsidise,” he said. Yesterday was the first Wednesday since Pakatan Harapan won in the general elections.

What this effectively means is that current fuel prices, set by the previous administration, will be maintained until further notice. Pump prices have been unchanged for seven straight weeks now.

RON 95 petrol is currently priced at RM2.20 per litre and RON 97 at RM2.47 per litre. Euro 2M diesel is RM2.18 per litre while Euro 5 diesel goes for RM2.28 per litre. The last time there was a change in fuel prices was during the fourth week of March, which saw a 10 sen increase across all fuel types and grades.