Petrol, diesel prices go up in January
In this article (5)
As expected, retail fuel prices will see an increase across the board as of midnight. For January, RON95 petrol will be priced at RM2.10 per litre, marking an increase of 20 sen compared to December retail price. RON97 petrol will be priced at RM2.40 per litre, up by 15 sen.
The same applies to diesel and Euro 5 diesel, which are priced at RM2.05 per litre and RM2.15 per litre respectively – an increase of 20 sen for both. These new fuel prices were confirmed by Petrol Dealers Association of Malaysia president Datuk Khairul Annuar Abdul Aziz. “Prices are in line with global petrol prices. However, the diesel prices which exceeded the RM2 mark will be a concern for the business community,” he told.
The country’s petrol and diesel prices have been placed on a managed float system from Dec 1, 2014 following the removal of fuel subsidies. Yesterday, Finance Ministry Strategic Communications director Datuk Lokman Noor Adam reportedly said that the retail prices of RON95 and diesel would go up in Jan due to an increase in the price of crude oil in the world market.
He said the retail price of RON95 and diesel were set according to the average prices of fuel in the world market for a month, as well as being influenced by the ringgit’s movement against US dollar.
Questions & Answers
Q.What is the new price for RON95 petrol in January and how much has it increased?
What is the new price for RON95 petrol in January and how much has it increased?
RON95 petrol will be RM2.10 per litre in January. This marks an increase of 20 sen compared to the retail price in December.
Q.What are the new prices for diesel and Euro 5 diesel, and by how much have they risen?
What are the new prices for diesel and Euro 5 diesel, and by how much have they risen?
Diesel will be RM2.05 per litre and Euro 5 diesel will be RM2.15 per litre. Both have increased by 20 sen.
Q.What is the reason given for the increase in fuel prices this January?
What is the reason given for the increase in fuel prices this January?
The increase in retail prices is due to a rise in crude oil prices in the world market. The ringgit's movement against the US dollar also influences prices.
Q.When did the country switch to a managed float system for petrol and diesel prices?
When did the country switch to a managed float system for petrol and diesel prices?
The country's petrol and diesel prices have been on a managed float system since December 1, 2014. This followed the removal of fuel subsidies.
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