Fuel prices drop after five weeks of hikes

KUALA LUMPUR, Nov 22 ― RON95 and RON97 petrol will be both be 8 sen cheaper at midnight, ending five consecutive weekly price increases.

The Domestic Trade, Co-operatives and Consumerism Ministry announced today that RON95 will retail for RM2.30/L and RON97 for RM2.58/L, while diesel will drop by 2 sen to RM2.23/L.

All prices are effective after midnight and valid until next Thursday.

Fuel prices previously rose for five straight weeks as global oil prices spiked due to the unrest in the Middle East region.

Putrajaya has pledged to intervene in the event RON95 and diesel exceed the RM2.50/L mark for three consecutive months.