Entering the third month of the managed float system, the Domestic Trade, Cooperatives and Consumerism ministry (KPDNKK) confirmed that the prices of fuel for the month of February 2015 have fallen further by 21 sen per litre for RON95 (previously RM1.91) and as much as 11 sen for RON97 (previously RM2.11) with diesel dropping by 23 sen previously RM1.93).
The government has just announced the new prices, will take effect at 12am midnight, on the 1st of February. Malaysians will now buy their fuel at the following price:
- RON95 – RM 1.70 per litre
- RON97 – RM 2.00 per litre
- Diesel – RM 1.70 per litre
Beginning 1 December 2014, a managed float system that sees a monthly review based on the average world price of crude oil has been used to determine fuel prices in Malaysia.