Diesel Prices Decrease by 2 Sen, RON95 and RON97 Remain Unchanged
By Subaashinee Kupusamy,
22 August: The Malaysian government has announced the fuel prices for the week of August 22-28, 2024. Diesel prices in Peninsular Malaysia will decrease by 2 sen, bringing the new price to RM2.13 per liter. Meanwhile, the prices of RON95 and RON97 petrol remain steady at RM2.05 and RM3.37 per liter, respectively.
These adjustments are part of the government’s ongoing effort to stabilize fuel costs amid fluctuating global oil prices. The unchanged petrol prices reflect the government’s continued subsidies, ensuring affordability for consumers despite market volatility. The new prices will take effect from midnight on 22 August 2024 and will be reviewed weekly based on the global oil price trend and foreign exchange rates.
This decision underscores the government’s commitment to shielding the public from significant fuel price hikes, maintaining economic stability, and easing the financial burden on citizens. Diesel users, particularly in the transportation and logistics sectors, will benefit from this slight reduction, which could lead to lower operating costs.
As the global energy market remains unpredictable, the Malaysian government continues to monitor developments closely, adjusting fuel prices accordingly. These weekly price updates are part of a managed float system, which aims to balance the need for fiscal prudence with the imperative to support consumers and businesses in an environment of rising living costs.
Consumers are encouraged to stay informed of the weekly price announcements to plan their fuel purchases accordingly. The government’s transparent approach to fuel pricing helps maintain public trust and economic stability during these challenging times as stated in The Star.
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