Motorists whose cars are running on RON95 should rejoice as the Ministry of Domestic Trade and Consumer Affairs has decided to lower the price of the fuel by 10 sen to RM1.95/liter for the month of December.
According to the latest price circular, the retail prices for RON97 remains 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 December 1.
The price reduction is in tandem with the decline in global oil prices with the Brent crude – the oft-referred to benchmark for global oil prices – staying below the US$45/barrel mark for most part of November 2015. This is coupled with the firming trend of the ringgit against the greenback especially during the second half of November 2015.
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 2015, 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
December 2015 RM1.95 RM2.45* RM1.90
* Including 6% GST charges