Malaysia‘S government will cut petrol prices by October should crude oil stay at US$109 or less a barrel, said Prime Minister Datuk Seri Abdullah Ahmad Badawi.
Prices at the pumps may be reduced by 15 sen a litre, he told reporters today in Putrajaya, outside Kuala Lumpur. Petrol now costs RM2.55 (74 US cents) a litre in Malaysia.
Abdullah also said he’s not concerned about the weakening of the Malaysian ringgit.
Meanwhile, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad said yesterday that fuel prices may be lowered further before Hari Raya Puasa.
He said the good news as hoped for by the people would be in line with the downward trend of global fuel prices.
“I am glad to see world fuel prices go down, even though there will be effects felt after Hurricane Gustav (on the United States’ Gulf Coast), the politics in Europe and the like.
“Looks like fuel prices are stable and I hope they continue to be so and come down a little so we can celebrate Hari Raya happier,” Shahrir said after the launch of Bernama Web TV by Prime Minister Datuk Seri Abdullah Ahmad Badawi in Putrajaya yesterday.
On August 23, the price of premium unleaded petrol (RON97) was reduced by 15 sen from RM2.70 per litre previously to RM2.55 per litre while unleaded petrol (RON92) was reduced by 22 sen from RM2.62 per litre previously to RM2.40 per litre.
Diesel price was reduced by eight sen from RM2.58 to RM2.50 per litre.