Malaysiakini News

Fuel prices freeze for the seventh week

Published:  |  Modified:

The government has announced that fuel prices will be maintained for the sixth consecutive week, despite increasing regional prices.

According to the Domestic Trade, Cooperatives and Consumerism Ministry, RON95, RON97, and diesel will retail at RM2.20, RM2.47, and RM2.18 per litre respectively.

Fuel prices have remained the same since March 22.

Global oil prices have been on the rise since April, and closed at US$72.91 per barrel today. 

However, the government appears to be subsidising the difference by maintaining fuel prices.

The weekly fuel price system was implemented on March 30 last year, and is calculated based on regional benchmark prices provided by Means of Platts Singapore (Mops).

The freeze in fuel prices comes amid the 14th general election, which will take place on May 9.

 

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