Pricing system for fuels to be announced today


The government is set to announce today the pricing system for petroleum products.

Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail said the Cabinet made a decision on the pricing system on Tuesday at its weekly meeting chaired by Prime Minister Tun Dr Mahathir Mohamad.

“In less than 24 hours, we will make an announcement and we just have to wait for it.

“The Finance Ministry will calculate the prices and inform the Domestic Trade and Consumer Affairs Ministry, which will make the announcement,” he told reporters after the press conference launching the “Ong Mali 2019” promotion campaign of Tesco Malaysia in Kuala Lumpur yesterday.

Saifuddin Nasution said the pricing system has taken into account the views of various quarters.

The government had announced on Dec 23 that fuel prices would be subjected to a weekly float beginning this year.

The system was supposed to have come into effect on Jan 1, but had to be postponed to consider the views of fuel station operators on the new retail pricing system.

The current prices are RM2.20 for RON95 petrol, RM2.50 for RON97 petrol and RM2.18 for diesel.

Saifuddin Nasution also said the government will soon announce the ceiling prices of controlled items for the Chinese New Year season. — Bernama