KUALA LUMPUR: Retail prices of petroleum products including RON95 are expected to go down beginning Jan 1, 2019, if the world oil price continues to decline.
Finance Minister Lim Guan Eng said the reduction in prices would be better reflected as the current monthly “Automatic Pricing Mechanism” method would be replaced by weekly pricing model to enable consumers to enjoy faster price changes in line with the world market.
“In line with the downward trend in world oil market prices, the government will adjust the retail price of petroleum products including RON95 to become lower beginning Jan 1, 2019 as currently, the prices are set on a monthly basis,” he said yesterday.
