With General Election just a day away, the suspense and loud silence in anticipation of the outcome, the weekly retail price for petrol and diesel is also suspended as though awaiting in the sideline.
Based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism formula, the retail prices of petroleum products from 17 November 2022 to 22 November 2022 remained unchanged. Retail price of RON97 remains at RM3.95 per litre while the retail price of RON95 petrol also stayed put at RM2.05 per litre.
Busses and boats ferrying voters can take respite as the retail price of diesel remained at RM2.15 per litre.
Lets be aware, that Malaysia does enjoy protected fuel prices in the form of government subsidy, while other nations have to contend with inflation and high oil price, Malaysians pay a fraction of the real costs of these necessities.
The Government has vowed to maintain the ceiling price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre, even though the market price for RON95 and diesel has increased beyond the current ceiling price, as seen in the retail price of RON97 petrol which is set according to the market price.
