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Sunday, May 1, 2016

Fuel price unchanged, RON95 stays at RM1.70 per litre


There will be no change in fuel price for May despite global crude oil price going up in the last month.
According to petrol dealers, RON95 will remain at RM1.70 per litre while RON97 will still be at RM2.05 per litre.
The retail price for diesel is also unchanged, at RM1.55.
Brent crude, which hovered at around US$39 per barrel, had gone up to around US$48 per barrel today.
The ringgit has not gone through significant changes in the last month, strengthening slightly to RM3.90 against the US dollar compared to RM3.93 a month ago.
The government determines the price of fuel through a managed float.
It takes into accounts several factors, including the global price of crude oil and the country's currency strength in the previous month.
This is not the first time fuel prices were unchanged despite increase in global crude oil prices.
In May last year, fuel prices were retained despite global crude oil price hitting a record high at US$66 per barrel.
This coincided with the Rompin and Permatang Pauh by-elections.
The Sarawak election is set for May 5. 

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