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Fuel prices up again

November 15, 2017 11:38 AM
34 1
Fuel prices up again

Fuel prices have been rising for five consecutive weeks and had peaked last Thursday. — Bernama picKUALA LUMPUR, Nov 15 — Petrol prices will reach another record high tomorrow since the introduction of the weekly managed-float system last March.

The Domestic Trade, Co-operatives and Consumerism Ministry said the price of RON95 will increase by seven sen to RM2.38 per litre, RON97 will increase by six sen to RM2.66 per litre, and diesel will rise by five sen to RM2.25 per litre.

Fuel prices have been rising for five consecutive weeks and had peaked last Thursday.

Also read: Fuel prices down second week in a row

Source: themalaymailonline.com

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Comments - 1
Anonymous

November 15, 2017 10:56 PM

There is something very wrong with the mechanism for adjusting the fuel prices in the Malaysian market. The MYR as of today is hovering about MYR 4.20 to USD1, up several weeks ago from MYR4.30 while prices of a barrel of crude oil hangs around USD49/barrel. which is slightly higher. The prices of fuel at the pump has been increasing every week for the last 4 weeks in a row! It just does not make sense, especially when our national petroleum company, pumps out more oil than the nation uses. The assets of PETRONAS belongs to all Malaysians and not to UMNO, who is treating it like their cash cow and has done nothing to ease the financial burden of all Malaysian citizens!