Selangor Journal
Picture shown for illustration purposes only. — Picture by SELANGORKINI

Fuel prices fall amid coronavirus concerns

SHAH ALAM, March 13 — Fuel prices are set to go down across the board from March 14 to 20.

The Finance Ministry in a statement today said that the price of RON97 will be priced at RM2.10 per litre, down nine sen from RM2.19 per litre previously.

The price of RON95 will be reduced by seven sen from RM1.89 per litre to RM1.82 per litre.

The price of diesel, meanwhile, will decrease by nine sen from RM1.96 per litre to RM1.87 per litre.

“The prices of crude oil plunged due to the misunderstanding and the failure of major crude producers to set a new production reduction agreement amid global crude demand concerns as well as the Covid-19 outbreak which is affecting the global economy,” the statement read.

The weekly fuel pricing mechanism was reintroduced on January 5 last year under the Automatic Pricing Mechanism (APM).

Under this system, fuel prices are announced every Friday and remain in force for one week.

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