Fuel Price Cut..
Posted November 11, 2008on:
The price of fuel may see another cut in the middle of November, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said today.
The downward trend of world crude oil prices enabled fuel prices at pump stations to be reduced, he told reporters after attending a corporate social responsibility programme hosted by Malaysian Resources Corporation Berhad at Sekolah Kebangsaan Tebrau Bakar Batu here.
He said that in October, the oil price was initially between US$74 and US$77 per barrel but in the last eight days of the month, it dropped to US$70.
Presently the average price of oil was at US$70 and the futures market also showed that in December, the price would be below US$70, he added.
The price of RON97 petrol is presently at RM2.15, RON92 petrol at RM2.05 and diesel at RM2.05 per litre after a series of adjustment on Aug 23, Sept 24, Oct 15 and Nov 1.