PUTRAJAYA: The retail price of RON97 and RON95 petrol is down by five sen to RM2.23 per litre and RM1.93 per litre respectively from Feb 2 to 8, said Finance Minister Lim Guan Eng yesterday.
The price of diesel, however, remains at RM2.18.
Lim said the price reduction for RON95 was due to the drop in prices of refined petroleum products in the world market, which was driven by the increase in the production of petrol products globally.
“The difference in the higher production cost for diesel compared to petrol was due to the higher demand for diesel products, especially from China, as well as increased production of petrol products in the global market,” he said in a statement.
He said the government would remain committed to implementing the policy of stabilising the retail prices of petroleum products and, at the same time, implementing price fixing for the benefit of the people.
This, he said, meant that if the price of petrol in the world market dropped, then the retail price of petroleum products would also be lowered to enable consumers to enjoy the immediate benefits of falling oil prices.
“However, if the market price of the product exceeds the stipulated level, the government will stabilise the retail price of RON95 petrol and diesel products by maintaining the retail prices at RM2.20 per litre and RM2.18 per litre respectively,” he said. – Bernama
