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No Change in Petrol and Diesel Prices Until May 22

Image by Kementerian Kewangan 

In a recent announcement by the Finance Ministry, it has been confirmed that the prices of petrol and diesel will remain stable until May 22nd. This means that consumers can expect no fluctuations in the retail prices of RON97, RON95 petrol, and diesel, which stand at RM3.47, RM2.05, and RM2.15 per litre, respectively.

Image by MalaysiaGazette

Here’s a breakdown:

  1. Stable Prices: From May 16th until May 22nd, there will be no changes in the prices of petrol and diesel across the nation.
  2. Government’s Initiative: The decision to keep the prices unchanged stems from the government’s commitment to shield consumers from the impacts of global oil price fluctuations.
  3. Automatic Pricing Mechanism: The prices are determined using the Automatic Pricing Mechanism formula, which calculates the weekly retail pricing of petroleum products.
  4. Consumer Protection: Despite increases in global oil prices, the government has opted to maintain the ceiling price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre. This ensures that consumers are not burdened with higher costs at the pump.
  5. Monitoring Global Trends: The government remains vigilant in monitoring global crude oil price trends. This allows them to take timely measures to safeguard the welfare and well-being of the people.

 

In essence, this announcement brings a sigh of relief to consumers, as they can budget their expenses without worrying about sudden hikes in petrol and diesel prices. The government’s proactive approach demonstrates its commitment to supporting citizens during these uncertain times.

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