Petrol price to fall again by Hari Raya Haji

 

THE second reduction in petrol price since November 18 will be made before the Hari Raya Haji, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad disclosed in Johor Baru yesterday.

The drop in price, he said, would not be more than 15 sen, while indicating that it would be for petrol only.

“We are now facing an extraordinary situation where the price of diesel in the global market is higher than that for petrol and because of this, the government is still giving a subsidy of RM1.43 for per litre of diesel.

With the latest decision, RON97 petrol is expected to drop to RM1.85 per litre from RM2 now and RON92 to RM1.75 from RM1.90.

Shahrir, however, said the decision on the mechanism to fix fuel price could not be discussed at the National Economic Council meeting in Putrajaya yesterday as the focus was on the security situation in the country.

“We may discuss it at the next council meeting after Hari Raya Haji,” he said, adding that the government was considering whether to use the floor price mechanism or continue with managed float to fix the fuel price. - Bernama