Motorists who are burdened by the recent toll rate hike can heave a sigh relief as the Ministry of Domestic Trade and Consumer Affairs has decided to maintain the existing fuel prices across the board for the month of November.
According to the latest price circular, the retail prices for RON95 remains at RM2.05/liter with RON97 at RM2.45/liter (inclusive of the 6% Goods and Services Tax) and regular diesel at RM1.90/liter (Euro 5 diesel is priced at RM2/liter).
The prices will come into effect from 12.01am on November 1.
In the month of October, MOPS95 (Mean of Platts Singapore) which forms the basis of RON95 petrol price was transacted at a range of US$58.77/barrel-US$62.13/barrel while the ringgit/US dollar exchange rate fluctuated between a high of US$4.4095/US$ and a low of 4.1175/US$. Based on both elements, the Automatic Pricing Mechanism of RON95 ranged from a high of RM2.18 to a low of RM1.90.
Some 12 major highway concessionaires in the Klang Valley had announced an increase in toll rates – ranging from between 10 sen and RM6 – which came into effect from October 15. However, PLUS Malaysia Bhd in a statement said toll rates at its eight (interstate) expressways remain the same as of now.
The current monthly fuel price adjustment system follows the Ministry of Domestic Trade and Consumer Affairs’ decision to set the market prices of petrol and diesel on a managed float beginning December 1 last year.
The month of February marked the lowest fuel prices thus far for Malaysian motorists with the RON95, RON97 and diesel priced at RM1.70, RM2.00 ad RM1.70, respectively.
Beginning the month of July, the Ministry of Domestic Trade and Consumer Affairs has ceased making a formal announcement on fuel prices revision at the end of every month. Instead any monthly changes in the prices of petrol and diesel will only be made known to consumers from 12.01am at petrol stations nationwide.
Month RON95 (Per liter) RON97 (Per liter) Diesel (Per Liter)
January 2015 RM1.91 RM2.11 RM1.93
February 2015 RM1.70 RM2.00 RM1.70
March 2015 RM1.95 RM2.25 RM2.25
April 2015 RM1.95 RM2.25* RM1.95
May 2015 RM1.95 RM2.25* RM1.95
June 2015 RM2.05 RM2.35* RM2.05
July 2015 RM2.15 RM2.55* RM2.05
August 2015 RM2.05 RM2.45* RM1.95
September 2015 RM1.95 RM2.35* RM1.80
October 2015 RM2.05 RM2.45* RM1.90
November 2015 RM2.05 RM2.45* RM1.90
* Including 6% GST charges