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JOHOR BAHARU, Dec 1 (Bernama) -- The second reduction in petrol price since Nov 18 will be made before the Hari Raya Haji, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad disclosed Monday.

"Definitely before Hari Raya Haji," he said when met by reporters after closing a seminar on business development for small traders and entrepreneurs, here.

The drop in price, he said, would not be more than 15 sen, while indicating that it would be for petrol only.

"We are now facing an extraordinary situation where the price of diesel in the global market is higher than that for petrol and because of this, the government is still giving a subsidy of RM1.43 for per litre of diesel.

With the latest decision, RON97 petrol is expected to drop to RM1.85 per litre from RM2 now and RON92 to RM1.75 from RM1.90.

On Nov 17, Deputy Prime Minister Datuk Seri Najib Tun Razak announced the reduction of RON97 price from RM2.15 per litre to RM2, and RON92 and diesel from RM2.05 to RM1.90.

Shahrir, however, said the decision on the mechanism to fix fuel price could not be discussed at the National Economic Council meeting in Putrajaya today as the focus was on the security situation in the country.

"We may discuss it at the next council meeting after Hari Raya Haji," he said, adding that the government was considering whether to use the floor price mechanism or continue with managed floatation to fix the fuel price.

On complaints on traders refusing to reduce the prices of goods despite the oil price reductions, Shahrir said currently traders selling goods coming from the factories were unable to do so as the prices had been determined at the time the orders were made.

"But the traders have assured that the manufactured goods would be cheaper in the first quarter of next year," he said.

On complaints on the spiralling prices of food at eateries, Shahrir said consumers could help reduce the prices by not frequenting such eateries, hence lowering demand and the prices.