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Petrol pump prices remain unchanged

 | April 1, 2015

But RON97 slapped with new 6% tax.


KUALA LUMPUR: Good news for motorists is that fuel prices, which is subject to global prices, remain unchanged for the month of April with RON95 and diesel at RM1.95 a litre and the higher grade RON97 at RM2.25.

But RON97 could not escape the clutches of the Goods and Services Tax (GST) which came into effect today.

The Domestic Trade, Cooperatives and Consumerism Ministry said in a statement yesterday that RON97 is subjected to the 6% tax “which will take effect from 12.01am on April 1”.

If the 6% GST is factored in, RON97 should be RM2.385 a litre.

Pump prices is set by a managed float method and a new price is announced before the start of each month. Prices in December were RM2.26, RM2.46 and RM2.23 for RON95, RON97 and diesel, respectively.

Over production has seen world oil prices sliding since June, and news agencies reported today that crude oil was falling with Brent crude oil price, the international benchmark, dropping to around US$55 a barrel. It was US$62.58 in late February.

Analysts are expecting prices to fall further as talks between Iran and six world powers over a nuclear deal could see the energy-rich country increase oil exports to world markets.


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