Petrol and Diesel prices for the week from May 5 till May 11 will remain unchanged despite threats by Europe to halt all imports from Russia and tit extends sanctions deeper into Putin’s government.
RON97 still remains at RM3.94 while diesel and RON95 are at RM2.15 and RM2.05 respectively, the price control and subsidy initiated by the Finance Ministry have eased consumers of the very important commodity. While subsidy is leveled at RON95 and diesel, RON97 has been allowed to float based on global pricing.
The government will continue to monitor fluctuations as the new sanction on Russia could pose new challenges to the global oil supply, and there could be drawbacks to this bold move by the EU. Russia could either look for new markets or flood the global supply with cheap oil and send prices to another round of volatility.
