The Malaysian government has announced the beginning of the floating fuel prices. According to Finance Minister Lim Guan Eng, the prices will be announced on Friday and take effect on the following Saturday.
To begin with, the price of RON95 petrol has been reduced to RM1.93 per litre; down by RM0.27.
RON97 petrol has also been decreased to RM2.23 per litre, while diesel is down to RM2.04 per litre.
This marks the return of the weekly floating fuel prices that were introduced by Barisan Nasional back in 2017. Since then, the price of RON95 has been pegged at RM2.20 while the new Pakatan Harapan government worked out its own adjustments to the system.
Going forward, the price of petrol in Malaysia will be allowed to float freely as the market dictates. However, Lim has also said that the government will not allow the price of RON95 to exceed RM2.20.
