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Tuesday, December 16, 2008

> It's now RM 1.80 per litre

Petrol and diesel prices will be reduced by another 10 sen per litre effective today, the government announced yesterday.

According to Bernama, the price of RON97 petrol will be reduced from RM1.90 per litre to RM1.80, while the cost of RON92 will drop from RM1.80 per litre to RM1.70. 

Diesel price will drop to RM1.70 per litre from RM1.80.
This is the seventh time the price of petrol and diesel has come down since August.

Reduction of subsidies for fishermen 

In a statement, Prime Minister Abdullah Ahmad Badawi said the reduction was in tandem with the drop of crude oil prices in the world market.

With effect from the same date (Dec 16), subsidies for petrol and diesel for fishermen will be reduced to 13 sen per litre from RM1.43 to RM1.30.

The last reduction of petrol and diesel prices was on Dec 2.

In June, petrol prices saw a 41 percent spike bringing pump prices to RM2.70 per lite, sparking off protests and calls for Abdullah’s resignation.

This also led to soaring inflation, with the August price index reaching a 27-year high of 8.5 percent. This was partly driven by the escalating cost of food and transportation.

In October, inflation eased to 7.6 percent as fuel prices dropped - Malaysiakini.