Govt set to cut petrol price by 10 cents, says report

From Malaysiakini :

Sep 24, 08 2:08pm
According to a news report quoting sources, the government is set to reduce petrol prices by 10 cents to RM2.45 per litre.

But no mention of date or time.

Does any one know when? Latest : It is Thursday, 25.09.2008

UPDATE : The Star :Fuel prices down by 10sen

PUTRAJAYA: Petrol and diesel prices will be reduced by 10 sen effective Thursday, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said.

The new price of petrol will now be RM2.45 per litre while the price of diesel will be RM2.40.

Prime Minister Datuk Seri Abdullah Ahmad Badawi had said on Tuesday that the Cabinet would discuss the price of fuel when it met today

‘’It is better we discuss first on matters related to fuel and subsidies. I don’t want to give any impression on the matter (whether there will be lower pump prices).

‘’If necessary, we will make an announcement,’’ he told reporters after chairing the second Economic Council meeting on Tuesday.

Abdullah was commenting on speculation that the Government might lower fuel prices a few days before Hari Raya Aidilfitri.

The previous reduction in fuel prices was on Aug 23, when the price of petrol was reduced by 15 sen per litre from RM2.70 while the price of diesel was cut by 8sen to RM2.50 a litre.

On June 4, the Government had announced a 78-sen increase in the price of petrol to RM2.70 a litre and a RM1 increase in diesel to RM2.58 a litre, stating that it could no longer continue to subsidise fuel.

On Aug 1, Abdullah said the petrol price would be reviewed monthly from Sept 1 based on the average global market price and the subsidy will be fixed at 30 sen a litre.

He also gave an assurance that the petrol price would not exceed RM2.70 a litre for this year, even if the global market price went up.



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