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RON97 petrol priced at RM1.74/litre, the lowest since 2006

Fuel is getting a whole lot cheaper in the coming week as the Ministry of Finance has announced yet another drop in prices. RON95 petrol will drop by 38 sen to RM1.44/litre while RON97 price goes down by 36 sen to RM1.74/litre.

Below is the latest fuel prices for the week between 21st March to 27th March 2020:

RON95 – RM1.44/litre (-38 sen)
RON97 – RM1.74/litre (-36 sen)
Diesel – RM1.75/litre (-12 sen)
Diesel (Euro 5) – RM1.85/litre (-12 sen)

At RM1.74/litre for RON97, this is the lowest since 2006 when the local price was increased from RM1.62/litre to RM1.92/litre. This week, RON97 is currently priced at RM2.10/litre.

Source: Astro Awani

According to the Ministry of Finance, the COVID-19 outbreak has caused economical uncertainty and as a result, it has affected the global price of crude oil.

However, due to the current Movement Control Order, all Malaysians are urged to stay at home and only to go out when it is necessary. The two-week restriction was announced to curb the spread of COVID-19 in the country and at the moment, there are over 1,000 cases in Malaysia with two deaths reported so far. Police authorisation is required for interstate travel and it will be granted only for those with strong and valid reasons.

[ SOURCE ]

Alexander Wong