The government has announced that fuel pricing will now be reviewed weekly instead of the current monthly system. Minister of Domestic Trade, Cooperatives and Consumerism Datuk Hamzah Zainuddin said that the price revision, if any, will be announced every Wednesday night starting 29 March 2017.
Currently, our fuel prices are based on the floating system, with the final figure being an average of the fluctuations in the crude oil trade. With the new system in place, Datuk Hamzah said that the fluctuations in fuel prices will be less drastic and more stable. From January to February we saw an increase of 20 sen in petrol prices for two consecutive months. March fuel prices are as follows:
|February 2017||March 2017||Difference|
|Petrol – RON 95||RM2.30 per litre||RM2.30 per litre||–|
|Petrol – RON 97||RM2.60 per litre||RM2.60 per litre||–|
|Diesel||RM2.15 per litre||RM2.20 per litre||5 sen|
|Diesel Euro 5||RM2.25 per litre||RM2.30 per litre||5 sen|
To avoid confusion, the pricing announcement will be announced on Wednesday night, but the actual adjustment will take place on Thursday.