RON97 petrol price, which is not subsidised, is not RM2.55. - The Malaysian Insider pic, November 18, 2014.The price of RON97 petrol will go down by 20 sen to RM2.55 per litre effective midnight tonight, but RON95 remains unchanged, The Star Online reports.
Deputy Finance Minister Datuk Ahmad Maslan also confirmed the matter via his Twitter account, attaching a photo of the letter sent to Petronas Dagangan informing of the new price.
According to Bernama, the price of RON97 fuel is determined by managed float, and depends on market forces.
The price of the premium fuel had been speculated to drop due to the recent plunge in the price of crude oil, as the government does not subsidise the RON97 petrol.
The subsidy rationalisation move by the government last month, had resulted in an increase in the price of RON95 from RM2.10 to RM2.30 per litre.
- TMI
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