The Malaysian government appears to have revoked the price control order that restricted the price of RON95 petrol to RM2.08/litre and diesel to RM2.18/litre.
The revocation was announced in a gazette dated 3 June 2020 and the order was approved by Domestic Trade and Consumer Affairs Minister Datuk Alexander Nanta Tinggi on 10 April.
“The Price Control and Anti-Profiteering (Determination of Maximum Retail Price for Petrol and Diesel) (No. 8) Order 2020 [P.U. (A) 64/2020] is revoked,” the gazette stated.
The former Pakatan Harapan government introduced the price ceiling after the 14th general election, restricting the maximum retail price for RON95 and diesel in Malaysia regardless of global oil price levels.
(Source: Malay Mail)