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Brace Yourselves For A Potential Fuel Price Increase, Malaysians

Not another price hike, please.


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Brace Yourselves For A Potential Fuel Price Increase, Malaysians
Image: Today Online / Reuters
We know you’re probably tired of hearing news about the fluctuating petrol prices lately since the government announced that it’ll be updated on a weekly basis instead of monthly like it used to be.
 
Of course, we can all sit and pray that the next announcement will see fuel prices going down rather than going up.
 
But that may not be the case.
 
According to Domestic Trade, Cooperatives and Consumerism Minister Datuk Hamzah Zainuddin, Malaysians may see petrol and diesel price hike following the recent conflict in Syria.
 
He told New Straits Times the air strike that recently happened in Syria have affected global oil prices and Malaysia’s fuel prices are no exception.
 
"I do not want to speculate. But, the public must be aware that in our country now, the retail prices for fuel are dependent on global fuel prices and the Automatic Pricing Mechanism (APM) as announced recently by the government.
 
"We do not simply increase the fuel prices without any reason or basis, it all depends on the global price," he was quoted as saying.
 
As of today, the RON95 is priced at RM2.16 per litre, RON97 at RM2.43 and diesel at RM2.08.

At this point, one can only wish for petrol companies to give out more fuel promotions or discounts.
 
Let's hope that the next announcement won't break our banks too bad. Or we just might resort to cycling everywhere.

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