As of writing, I’m sure many of you have heard about the new fuel price reduction of RON97 petrol to RM2.46 per litre because it turns of out the over the past few days, many petrol stations have been running out of RON97 fuel as many consumers have switched from RON95 to RON97!
It didn’t come as a surprise really, after all, the price difference between RON97 and RON95 is now only 20 sen. The demand for RON97 petrol in the country was reported to have risen five-fold, however, according to Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek, the shortage was only temporary and the supply of RON97 nationwide should return back to normal next week.
“There is no issue of hoarding here or oil companies reaping hefty profits as technically the disruption in supply is due to spiraling demand,” he said when commenting on claims that traders were hoarding the fuel which resulted in its shortage.
That’s not the only good news we’ve heard this week. It turns out that global oil prices are expected to continue to fall until January 2015 based on their downtrend in the 1st week of December, said Deputy Finance Minister, Datuk Ahmad Maslan.
He said the information obtained showed that the average weekly prices of global oil were falling, and the possibility that fuel such as RON97, RON95 and diesel in this country will be sold at lower prices.
“According to the trend this week, RON95 will fall further, RON97 will fall further, and diesel may fall further from RM2.23 per litre at present.” If the fuel price continues to decrease, you can expect prices of goods to go down as well. (I’ll believe that when I see it. – Ed.)
Source: Bernama
