The Chinese New Year holidays start this Friday and many Malaysians will be doing a lot of motoring, whether it is to return to their hometowns for the celebration, to go to a holiday resort or just going around visiting friends and relatives. Perhaps as a special ‘treat’ from the government for the festive period, fuel prices will be reduced substantially after midnight today.

The biggest drop of 12 sen is for diesel, which will be RM2.19 per litre for the Euro2M grade and RM2.39 for the better Euro5 grade. For RON97 petrol, the pump price will be 11 sen lower at RM2.50 a litre while those who use RON95 (which would be the majority) will pay 10 sen less per litre, ie RM2.23.

With the significant reduction in fuel prices, motoring during the Chinese New year holidays will be cheaper.

The revised petrol prices are at a level last seen at the end of October and early November 2017, while diesel has not been at this price since mid-December 2017 when it was RM2.20 a litre for the Euro2M grade. All the latest prices are the lowest in 2018 to date.

So perhaps it’s a good thing that fuel prices, while being allowed to vary according to global oil prices, are also ‘managed’ by the government which can – if it chooses – set lower prices that all stations must follow.

Whether you will be driving near or far, remember that it’s better to be late by 5 minutes than not arriving at your destination at all. Have a safe journey and Gong Xi Fa Cai!

[Chips Yap]

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