JOHOR BARU: There will be no further cut in fuel prices for the moment.
Domestic Trade and Consumer Affairs Ministry secretary-general Datuk Mohd Zain Mohd Dom, who said this, added that the ministry would only consider reducing the price of petrol if fuel dropped below US$40 (RM144) per barrel.
Mohd Zain said that at present, fuel ranged between US$43 to US$44 (RM155-RM158) per barrel according to last month’s price averages.
“We are monitoring the situation but, so far, there will be no reduction in petrol prices,” he said.
There have been calls for the price of petrol to be reduced further, with the latest coming from MCA information and communication bureau chief Lee Wei Kiat, who asked for natural gas, electricity and petrol price reductions.
Last June, the government raised petrol prices by 78 sen, from RM1.92 to RM2.70 following the skyrocketing price of fuel worldwide.
Since then, the government has gradually reduced the price of fuel seven times to the present RM1.80.
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