In spite of declining oil prices on the global market, it seems that Malaysian motorists with petrol-engined vehicles still cannot benefit from lower fuel prices at the pumps. For the next 7 days, the prices will be higher with an increase of 3 sen for RON95 and 4 sen for RON97. This takes RON95 to RM2.15 per litre and RON97 to RM2.43 per litre.
Diesel prices, however, go the other way as there is a reduction of 2 sen. This means that the Euro-2M grade will be RM2.04 and the cleaner Euro-5 grade will cost RM2.14. Incidentally, the price of the Euro-5 grade is presently set to be 10 sen more than Euro-2M.
This is understandable as the fuel is of a much higher quality in terms of significantly lower sulphur levels. The extra 10 sen is permitted to help the petroleum companies cover their extra costs at the refinery.
Will there be reductions announced next Wednesday as the government’s ‘present’ to motorists to celebrate Merdeka Day? We certainly hope so!