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Tuesday, February 28, 2017

Oil prices to rise again tomorrow?

Industry source denies WhatsApp message indicating 20-40 sen hike in prices.
oil-upPETALING JAYA: Petrol and diesel prices are expected to rise tomorrow.
However, a source in the petrol industry has denied the quantum of increase contained in WhatsApp messages being widely circulated.
The message claims the price of RON95 petrol will go up 20 sen to RM2.50 per litre and RON97 petrol 40 sen to RM3 per litre. It said diesel will cost 30 sen more at RM2.45 per litre.
The industry source contacted by FMT said the message was just “rumour mongering”.
“We have still not received anything official but our calculations show these numbers are incorrect.”
He refused to state how much fuel prices would go up and said it was better to wait for the official statement expected later this evening.
Fuel prices have been determined each month using the managed float system since Dec 1, 2014.
Last month, it was reported that refined petrol prices might differ from crude oil prices due to global supply and demand factors.
The prices of RON95 and RON97 went up by 20 sen to RM2.30 (up 9.5%) and RM2.60 (8.3%) respectively from Feb 1. Diesel went up by 10 sen to RM2.15 (4.9%). FMT

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