19 August 2018

No more fluctuation in fuel prices

No more fluctuation in fuel prices
PUTRAJAYA: Prime Minister Tun Dr Mahathir Mohamad says the price of fuel will no longer be floated on a weekly basis and will be pegged to the present price.

“There will be no more (price) fluctuation. The present fixed price will stay. If it is not enough, the Government will subsidise,” he told a press conference yesterday.

The current fuel price is RM2.20 per litre for RON95, RM2.47 for RON 97 and RM2.18 for Euro 2M diesel.

The practice of the previous administration was to determine fuel prices on a weekly basis. The new price was announced every Wednesday at 5pm.

He also said his Government would look at laws that needed to be reviewed and repealed, adding that this included the Anti-Fake News Act 2018 and those concerning national security.

Dr Mahathir said he would expedite the forming of the new Cabinet and for Parliament to convene for these laws to be repealed.

He said seven more Cabinet members would be named this week, adding that with the three named earlier, the 10-member Cabinet could function while waiting for the appointment of the remaining 15.


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