KUALA LUMPUR: The retail price of RON97 petrol nationwide was reduced by 20 sen per litre to RM2.70 per litre from RM2.90 per litre effective Tuesday night.
This was confirmed by Domestic Trade, Cooperatives and Consumerism Minister Datuk Hassan Malek to Bernama when contacted here yesterday.
The price of RON97 petrol was last reviewed in March 2013 and was at the RM3 per litre level in September 2012.
The retail price of RON97 petrol is determined by a “managed float” in which the price will be changed according to market forces.
Meanwhile, Deputy President of Petrol Dealers Association of Malaysia Datuk Zulkifli Abdul Mokti said the reduction in the price of RON97 petrol was welcomed and it showed the government’s policy in prioritising the rakyat’s needs. — Bernama