No change in retail petrol, diesel prices for May

Prices of fuel are to remain the same from midnight tonight. – The Malaysian Insider file pic, April 30, 2015.

Retail prices of fuel will remain the same from midnight tonight, with RON95 petrol and diesel selling at RM1.95 a litre, and RON97 petrol at RM2.25 a litre, quashing rumours that Putrajaya plans to increase RON95 price by 20 sen. 

A spokesman from the Domestic Trade, Cooperatives and Consumerism Ministry told Bernama that all prices would be similar to the announcement last month.

This is the third month that fuel prices in the country remain unchanged. Putrajaya ended the subsidies system last December.

It was reported earlier that RON95 petrol was expected to go up by 20 sen beginning tomorrow.

Earlier, the Malaysian Petrol Dealers Association told The Star Online that the increase in prices were simply rumours.

Its deputy president, Datuk Zulkifli Mokti, said as of 8pm tonight, the association had yet to be informed of any change to current pump prices.

“Nothing at all. There are a lot of rumours, unreasonable rumours. The talk about the price going up to 15 sen is unreasonable and it is impossible for it to increase by 15 sen.

“My view on this is there will be no increase,” Zulkifli was quoted as saying in the news report.

News portal Free Malaysia Today had reported that the retail price of RON95 petrol is expected to go up by 20 sen beginning tomorrow.

The report also stated that RON95 will be priced at RM2.15 per litre compared to its current price of RM1.95, this according to a source in the Domestic Trade, Cooperatives and Consumerism Ministry. However, no details were available on the pricing for diesel and RON97 petrol.

Putrajaya ended the subsidies system last December after global oil prices slid to below US$60 a barrel as oil-producing countries kept production up despite a souring world economy that slowed consumption.

Since December 1, the retail price of fuel has been set by a managed float mechanism and a new price is announced before the start of each month. Prices in December were RM2.26, RM2.46 and RM2.23 for RON95, RON97 and diesel, respectively.

- TMI