Image via Malaysian Reserve
It’s a new year and so what’s the latest with Malaysia now? Well, good news might just come your way.
In line with the GE-14 Election which promises that many would benefit from a lower oil price, recent news has spread that starting from January 1st onwards, the plan will be taken into action.
According to Finance Minister Lim Guan Eng, he announced that the government would be returning to a weekly float for the RON95 petrol price from Jan 1 onwards.
“In this matter, the changes in the price of fuel in Dec 2018 will only result in a reduction in fuel prices in Jan 2019,”
Here is the pricing (tentative);
RON95: RM 1.93 (Down 27 cents)
RON97: 2.23 (Down 27 cents)
Diesel: 1.91 (Down 27 Cents).
However, weekly float system was initially supposed to start from Jan 1 but has been put on hold. So, on January 2nd, petrol dealers had met with Prime Minister Tun Dr Mahathir Mohamad to voice their concerns over the weekly float system.
It was announced that on Monday (Dec 31), the government announced that the retail prices of fuel would remain unchanged for the first week of 2019.
The lockdown on the confirmed oil pricing will be announced today(January 4th). So stay tuned!
New retail prices for fuel (per litre) as announced by Finance Minister Lim Guan Eng for Jan 5 to Jan 11: RON95 – RM1.93, RON97 – RM2.23, Diesel – RM2.04.
These prices will come into effect at midnight tonight.