Most Read
Most Commented
Read more like this
mk-logo
News
RON97 prices drops 31 sen after crude prices fall below US$50 mark
Published:  Nov 30, 2018 10:37 PM
Updated: 2:37 PM

Putrajaya has lowered the prices of RON97 petrol by 31 sen a litre as crude oil prices continue to hit new lows this year.

The price of RON97 – which is floated – will be priced at RM2.50 per litre beginning Dec 1.

Prices of the more commonly used RON95 and diesel remained unchanged at RM2.20 and RM2.18 to the litre respectively.

Crude oil prices fell below the US$50 per barrel mark yesterday – the first time since October last year.

Falling crude prices have been attributed to weak global demand and an increase in US shale oil production.

In September, the US overtook Saudi Arabia as the world’s top oil producer. The last time this happened was in 1973.

Dampening oil prices are expected to have a drastic effect on Malaysia whose revenue is heavily dependent on oil production. 

ADS