On the 12th of September 2018, Deputy Finance Minister Datuk Amiruddin Hamzah told the Dewan Negara that the Government of Malaysia (GoM) did not plan to reduce the price of petroleum to RM1.50 per litre unless the world price of crude oil price dropped to that level.
According to him, such a move was not necessary as it was not contained in the Pakatan Harapan’s manifesto for the 14th General Election.
However, what he failed to mention was that prior to GE14, leaders of the DAP and PKR went all around town on hailers alleging that the price of petrol would be pegged at RM1.50 the minute PH was given a clear majority in Parliament.
PUTRAJAYA: The Finance Ministry today announced that petrol prices for RON97 and RON95 will go up by 10 sen, effective midnight (Feb 23) until March 1.
Price for diesel remains unchanged at RM2.18 per liter.
The new retail prices for RON97 and RON95 petrol are RM2.38 and RM2.08, respectively.
“The price for petroleum (refined) at the world market has increased as compared to the week before, from US$63.11 per barrel to US$66.91 per barrel for RON95 and from US$74.38 per barrel to US$79.11 per barrel for diesel.
“For diesel, the increase in market price should have caused the price to increase to RM2.33 a litre, based on the Automatic Pricing Mechanism (APM) formula.
“However, the Pakatan Harapan (PH) government has pledged that it would stabilise the retail price at RM2.20 a litre for RON95 and RM2.18 for diesel,” the ministry said.
Last week, the fuel prices for RON97 and RON95 were RM2.28 and RM1.98, respectively.