Despite many rumours regarding the increment of petrol prices in May, an official statement issued by the Domestic Trade, Cooperatives and Consumerism ministry revealed that prices for RON 95, RON 97 and diesel will retain the same figures as they did in March and April.
This means RON 95 and diesel will still be sold at RM1.95 per litre, whereas RON 97 will continue being sold at RM2.25 per litre. Several news portal reported that RON 95 will see an increase of RM0.20, bringing it to RM2.15 per litre. Well, those speculations can be put to rest now.
We’ve seen fuel prices fluctuate for the past four months; from RM1.91 (RON 95) in January to RM1.70 in February, then back up to RM1.95 for the months of March, April and May. With our fuel subsidies removed and global crude oil prices steadily on the rise, it’s difficult to say if prices will remain unchanged come June. As of press time, WTI crude oil is priced at USD58.58 per barrel.