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FURTHER DROP IN FUEL PRICES IN MALAYSIA

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The retail prices for fuel in the country will be reduced between 11 sen and 23 sen from midnight as the downtrend in global crude oil prices continues, said Deputy Finance Minister Datuk Ahmad Maslan yesterday.
He posted on Twitter that RON95 petrol will be reduced by 21 sen to RM1.70 a litre; RON97 will be priced at RM2 a litre (11 sen drop) and diesel at RM1.70 a litre (23 sen drop).
In November, Putrajaya announced that it would remove all fuel subsidies effective December 1 and use a managed float method to determine the retail price of fuel.
Through the managed float method, the average change in the product cost will determine pricing on a monthly basis.
However, with oil prices showing no signs of recovery, Malaysians should be able to look forward to cheaper oil prices in 2015. 
Ahmad Maslan said last month that the government would continuously monitor the market development of the cost of the products 
and exchange rates in fixing the retail prices of 
petrol and diesel.
Ahmad Maslan said last month that the government would continuously monitor the market development of the cost of the products and exchange rates in fixing the retail prices of petrol and diesel. - See more at: http://www.themalaysianinsider.com/malaysia/article/futher-drop-in-fuel-prices-from-tomorrow#sthash.9coK1Etw.dpuf

 Source: TMI...More
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