RM1.90 Petrol Price Stays If Crude Oil Price Not Higher Than US$83 Per Barrel

KAPAR, Dec 11 (Bernama) -- The current retail price of RON97 petrol at RM1.90 per litre can be maintained if the world crude oil price does not exceed US$83 per barrel, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad said.
"The ministry is in the midst of coming up with a mechanism to mantain the current retail price of RON97 at RM1.90 per litre and I can assure you that there will be no increase if the world crude oil price continues to be lower than US$83 per barrel," he told reporters after launching Econsave Cash and Carry supermarket's price reduction campaign here Thursday.
The campaign involves 2,120 products and will stretch till Feb 28 next year at all the company's 28 stores nationwide.
Shahrir said the demand for petrol now was domesticallly driven and added that the ministry would find ways to help consumers to have disposable income.
"The real issue here is how much the price should be so that consumers have more money to spend or save and how much should go to the government's coffers for development and other purposes," he said, adding that the government was now in the process of educating consumers on the rationale behind the fluctuation of petrol prices recently.
He added that the proposed mechanism to determine fuel prices would be brought to the Cabinet at its meeting tomorrow or next week.

tunku : i hope the goverment will stick to its promised that the price of petrol won't be more that RM1.90 if world crude oil price continues to be lower than US$83 per barrel and we hope at the current price that is below us$50, our domestic price should be lower , at least at RM1.50 - RM1.60.