Fuel Prices Further Reduced From Jan 1

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The retail prices of RON95 and RON97 petrol will be reduced by 35 sen per litre to RM1.91 per litre and RM2.11 per litre, respectively, effective midnight tonight.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek said the retail price of diesel would also be reduced by 30 sen to RM1.93 per litre.

The current retail prices for RON95, RON97 and diesel are RM2.26 per litre, RM2.23 per litre and RM2.46 per litre, respectively.

“The prices of petrol and diesel are based on the average cost price of the products for the whole of December 2014 and currency exchange rates,” he said in a statement.

He said the government would continuously monitor the market development of the costs of the products and currency exchange rates in fixing the retail prices of petrol and diesel in the coming months.

“All oil companies and petrol station operators must abide by the new pricing and stern action will be taken against those who violate the new pricing rules,” he added.

— BERNAMA