Some good news this February, at least!
According to a report from The Star Online, petrol prices from 1st February have been revised downwards from its January prices. RON95 will be priced at RM1.75 per litre (10 sen less from January), RON97 at RM2.05 (less 20 sen) while diesel will go on sale at RM1.35 (less 25 sen).
The price for Euro 5 diesel will also go down by 15 sen to RM1.45.
Petrol Dealers Association of Malaysia president Datuk Hashim Othman confirmed the new pricing when contacted.
The Domestic Trade, Co-operatives and Consumerism Ministry decided to set the prices of petrol and diesel on a managed float system from 1st December last year following a removal of all fuel subsidies.
The reduction is seen as the effect of a fall in crude oil prices in the world market. Fuel prices have been going down as world prices also took a beating.
January prices saw a reduction from the December prices with RON95 selling at RM1.85 per litre (RM1.95 in December), RON97 at RM2.25 (RM2.45), diesel RM1.60 (RM1.90) and Euro 5 diesel RM1.70 (RM2). Diesel and Euro 5 diesel, priced at RM1.60 and RM1.70 respectively in January, both fell by 30 sen compared to the previous month.