Fuel Prices To Be Cheaper In January 2019
Author Avatar


Fuel Prices To Be Cheaper In January 2019

The government has announced that prices for RON95 petrol and diesel will decrease from early January 2019, in line with global crude oil prices. Moving forward,Finance Minister Lim Guan Eng stated that petroleum product prices will be changed monthly while fuel prices will be done weekly from January 2019.

Currently, RON95 is sold at RM2.20 a litre while diesel at RM2.18 per litre. The government has fixed the prices of both fuels since 7 June 2018, as it promised that the prices will not change despite the upward trend in global crude oil prices in 2018. During the increase of global petroleum product prices this year, the government’s total fuel subsidy totaled RM7.14 billion as of November this year, with a huge chunk (RM5.82 billion) spent from May to November 2018 alone. Now that the recent crude oil price has decreased, the government will be adjusting petroleum product prices including RON95 next year onwards to reflect the current prices.

The Malaysian Finance Minister also said that due to the monthly automatic pricing mechanism (APM) for fuel prices, the lower fuel prices can only be reflected in the following month. The switch to a weekly APM system which will be introduced next year will avoid the same problem. Not to forget,  the targeted subsidy system to help those in the B40 category will be introduced later on in 2019.

(Sources: Free Malaysia Today, New Straits Times)


0 0 votes
Article Rating


Comments (0)

Notify of
Inline Feedbacks
View all comments
Top Personal Finance News Articles
Post Image
Petrol Price Malaysia Live Updates (RON95, RON97 & Diesel)
The RinggitPlus Team
- 4th August 2021
We provide weekly updates on every Friday at 5pm on the prices of RON95, RON97 and Diesel in Malaysia and a chart that shows the movement of fuel prices across a 6-week period. Bookmark this page now!
Post Image
Touch n Go RFID: What Malaysian Road Users Need To Know
Jacie Tan
- 10th August 2018
Everyone’s talking about Touch ’n Go RFID being used at Malaysian highway tolls soon – here’s what you need to know about it.
Post Image
Malaysian Banks And Local Institutions Offer Financial Assistance For Customers Affected By Covid-19
Alex Cheong
- 1st April 2020
(Last update: 1 April 2020, 3.40pm to include FAQs by banks.) With Malaysia going into an extended period […]
Post Image
How to Decide Whether to Buy a New or Used Car
The RinggitPlus Team
- 25th January 2019
Considering an upgrade on your wheels or a first car? The eternal question would be whether to buy a new or used car. We take on the question of buying new or used and turn it inside out to help you make a decision.

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image