The price of RON97 petrol will be determined at the end of each month due to the managed float of oil price, says Domestic Trade, Consumerism and Co-operatives Minister Datuk Seri Ismail Sabri Yaakob.
“We will calculate the average oil price from the 1st to the 27th of each month and the average price will determine the price for the next month,” he said after launching Bank Rakyat i-Debit card Tuesday.
The price of RON97 increased by 10 sen to RM2.50 per litre, earlier this month.
Ismail Sabri said this would mean that the price of RON97 would fluctuate every month as it depended on the price of crude oil in the global market.
The RON97 petrol price also rose by 10 sen per litre to RM2.40 on Jan 4. - TheStar
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