KUALA LUMPUR, Dec 24 — Datuk Seri Najib Razak claimed today that the retail price for RON95 petrol should now be RM1.86 per litre, if the Pakatan Harapan (PH) government still utilises the Automatic Pricing Mechanism (APM) implemented by his administration.
The former prime minister said the average Mean of Platts Singapore (MOPS) price for RON95 petrol has fallen to A$0.519 per litre at the end of last week compared to A$0.538 in the previous week.
“Using the APM like implemented by BN, the RON95 price right now should be RM1.86 per litre.
“This also means that the people are subsidising the fuel at 34 sen per litre for the PH government during the school holidays and festive season now.”
Finance Minister Lim Guan Eng has announced today that the price for RON95 petrol is expected to be cheaper next month due to the plunge of global crude oil prices.
Lim also added that government currently sets fuel prices on a monthly average basis, which will only be reflected the following month.
Lim also announced that the government will be returning to a weekly float for the RON95 petrol price from January 1 onwards.
However, he said, if world oil prices to increase weekly, the rise in retail oil prices will be controlled and limit to RM2.20 per litre for RON95 and RM2.18 respectively for diesel.
