Petrol prices drop 35 sen, diesel 30 sen from Jan 1

source : http://www.thestar.com.my/News/Nation/2014/12/31/Fuel-prices-down-jan-1/

Published: Wednesday December 31, 2014 MYT 8:23:00 PM
Updated: Wednesday December 31, 2014 MYT 9:17:11 PM

Petrol prices drop 35 sen, diesel 30 sen from Jan 1

PETALING JAYA: Prices for RON95 and RON97 petrol will go down by 35 cents per litre from Jan 1, while diesel is down by 30 sen.

With the drop, fuel prices per litre are now RM1.91 for RON95 petrol, RM2.11 for RON97, and RM1.93 for diesel, announced the Domestic Trade, Cooperative and Consumerism Ministry in a statement Wednesday.

Minister Datuk Seri Hasan Malek said that the Government would continue to monitor the market price of petrol and diesel, as well as currency exchange rates, in the coming months.

On Dec 1, 2014, retail prices for petrol and diesel were fixed on a managed float system, effectively marking the removal of all fuel subsidies.

Under the managed float, retail prices would be based on the monthly average world price of crude oil.