Malaysians To Pay More For Fuel In July
Malaysian motorists will be paying more for fuel as prices rise by 5 sen across the board for the month of July.
Below are the changes from the previous month:
| Types of fuel / Months | RON95 (per litre) | RON97 (per litre) | Diesel (per litre) |
|---|---|---|---|
| July | RM1.75 | RM2.10 | RM1.60 |
| June | RM1.70 | RM2.05 | RM1.55 |
Petron Petrol Dealers Association president Datuk Alang Zari Ishak confirmed the 5 sen hike when contacted, according to The Star.
This is the first time that fuel prices have gone up since April this year.
From December 1, 2014, the Domestic Trade, Cooperatives and Consumerism Ministry decided to set prices of petrol and diesel on a managed float system following the removal of fuel subsidies.
Under the managed float system, retail prices of fuel are based on the monthly average world price of crude oil.
Using this system, the average petrol price difference in the cost of the fuels in a month would determine the retail prices for the following month.
Image source: Autofreaks.com
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