> Petrol prices to go down

Petrol and diesel prices might be reduced further by the end of the month, said Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad.

He said this was possible because world crude oil prices were on a downward trend.

The world crude oil price dropped to US$69.85 a barrel on Thursday compared to US$77.70 a barrel on Oct 12.

He said a faster decision could be made now as the matter no longer had to be brought up to the Cabinet but decided through a meeting of several ministers chaired by the Prime Minister.

Since August, pump prices have been reduced three times, on Aug 23, Sept 24 and the latest on Oct 15.

The price of Ron97 was reduced from RM2.70 a litre to RM2.55, RM2.45 and RM2.30 a litre respectively while Ron92 from RM2.62 a litre to RM2.40, RM2.30 and RM2.20.

For diesel, it was brought down from RM2.58 a litre to RM2.50, RM2.40 and RM2.20.

The government, Shahrir said, cannot bring down the prices drastically as it could have adverse effects in the supply chain.

Prior to this, Shahrir had said that the pump price of Ron97 could return to that of before June 5, that is RM1.92 a litre, if the world crude oil price fell below US$72 a barrel - Bernama.

Why wait till end of month when it can be done now! - My Journal.