The Finance Ministry has announced that there will be no change in the retail prices of RON97, RON95 petrol, and diesel from August 31 to September 6. According to the ministry’s statement on August 30, the weekly retail pricing of petroleum products, using the Automatic Pricing Mechanism (APM) formula, will keep RON97 at RM3.37 per litre, RON95 at RM2.05 per litre, and diesel at RM2.15 per litre.
To protect consumers from the increase in global oil prices, the government has decided to maintain the ceiling price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre. The market price for both products has exceeded the current ceiling price, but the government aims to safeguard the welfare of the people despite the rising market prices.
The Finance Ministry assures that it will continue to monitor the global crude oil price trend closely and take appropriate actions to ensure the well-being of the people. The decision to maintain the current prices is a step the government is taking to protect consumers from potential price fluctuations in the global oil market.
By keeping the prices steady, the government aims to provide stability and affordability in the retail petrol and diesel market. This move is significant as it ensures that the prices of essential commodities remain within the reach of the general public, preventing any unnecessary burden on their finances.
The government’s decision is a response to the current challenging economic environment, where global oil prices continue to rise. By maintaining the prices, the government aims to support the people in managing their daily expenses and ease their financial burden during these difficult times.
The Finance Ministry’s statement emphasizes the government’s commitment to prioritizing the welfare and well-being of the people. The government’s monitoring of global crude oil prices reflects its proactive approach to manage any potential impact on the domestic oil market.
The government’s efforts to protect consumers also demonstrate the importance it places on managing inflation and stabilizing the cost of living. By maintaining the current prices, the government aims to alleviate the concerns of the public about increasing expenses and ensure their financial security.
Overall, with the decision to keep the retail prices of RON97, RON95 petrol, and diesel unchanged, the government aims to support the people in coping with the economic challenges and maintain stability in the retail fuel market.
The government’s commitment to continue monitoring the global crude oil price trend reflects its dedication to taking timely and appropriate measures to safeguard the welfare of the people and ensure their continued well-being.
Credit: The Star : News Feed
