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Friday, 22 August 2008 06:06pm |
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©The
Sun (Used by permission)
PUTRAJAYA (Aug 22, 2008): The petrol and diesel price will drop by between eight
sen and 22 sen a litre tomorrow, the government said in a surprise announcement
today.
Prime Minister Datuk Seri Abdullah Ahmad Badawi said the Cabinet had decided
that the price of RON97 petrol be reduced by 15 sen to RM2.55 a litre from
RM2.70, while RON92 would cost 22 sen less at RM2.40 a litre from RM2.62 a litre.
The retail price of diesel would drop by eight sen to RM2.50 a litre, he said in
a statement.
The petrol price was determined by taking into account the actual price from Aug
1 to 21 and the 30 sen per litre subsidy borne by the government while the
subsidy for diesel, based on the new price, was 50 sen a litre.
"The cabinet today decided to bring forward the enforcement date for adjustment
of the new petrol price," he said. He had insisted that a price change will only
take place on Sept 1, in earlier report.
Abdullah said as had been announced, the Consumer Price Index (CPI) for July was
8.5% higher than that for the same month last year. He said it is the
government's hope that the fuel price drop will help ease the consumer's burden
and inflationary pressure.
He also reiterated that the earlier-decided ceiling of RM2.70 for petrol will be
maintained even if world crude prices shoot up.
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