RON95 may be cheaper in December, says minister – Bernama
The price of RON95 petrol may be three-sen cheaper at RM2.27 a litre from December 1, if average global crude oil prices remain at around the US$80 (RM286) a barrel for the whole of November.
Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar (pic) said consumers can expect to enjoy cheaper fuel, given that the current crude oil price slump was predicted to last about two years.
"But if global prices rebound, the managed float system will likely follow suit," he told reporters after attending a meeting with 50 animation students under the "Peneraju Skil Iltizam" programme Petaling Jaya today.
The government, has effective December 1, scrapped subsidies for RON95 petrol and diesel and replaced it with the managed float system.
This came about as a result of global fuel prices being lower than the pump price for RON95 and diesel. The price of RON97 has been determined by the managed float system since July 2010. – Bernama, November 22, 2014.
