This is currently the fourth consecutive increase in the past 6 months. It is not known whether the price hike affect other fuel prices as well. It would most likely just be RON97 as it is currently unsubsidized and is due to a review every month to reflect international oil prices.
The previous highest RON97 price is at RM2.70 at June 2008, when world oil prices hit a record high of US$121 per barrel. The current crude oil market price ber barrel now is at US$91.84
The government no longer fix the price nor announce any price increase for RON 97. They did not increase the price. The hike was due to the market forces.This is different from the prices of RON 95 petrol and diesel which are still being controlled by the government and subject to subsidies.
Will it effect RON95???So what will you guys do to counter the effects of the rising fuel costs?Take public transport? Drive hybrid cars like the Toyota Prius or Honda Insight? Leave your comments below.
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