April 01, 2011
The jump is due to unrest in oil-rich North Africa. — Reuters file pic
It is the highest jump this year as world oil prices have spiked due to unrest in oil-rich North Africa.
“We received the confirmation notice this evening about the 20 sen rise,” a source told The Malaysian Insider.
The price of the higher-grade RON97 rose 10 sen effective January 31 after a similar hike in early January 2011. It had earlier spiked to RM2.30 last December 1.
It is understood prices of other fuel grades will remain unchanged as only RON97 prices are determined by a market float.
The government had said it would review all options to ensure that it can maintain the price of the RON95 grade, used by most motorists, despite rising global prices.
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