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KUALA LUMPUR, June 25, 2015:

The pump prices of diesel plus RON95 and RON97 petrol are likely to remain at the current level for July, given that global crude oil prices and the ringgit value against the US dollar had been range-bound over the past one month.

The government should announce on Tuesday that diesel and RON95 price will stay at RM2.05 per litre while RON97 remains at RM2.35 per litre, with GST – bringing cheer to Malaysians as they prepare for Hari Raya Puasa festivities and balik kampung travels.

The fuel prices had risen 10 sen as of June 1 – representing a return to the level seen for around a month in September last year, while there was still a fuel subsidy.

Amid a sharp fall in global crude oil prices in the second half of last year, the government fuel subsidy was scrapped as of Dec 1.

Since then, fuel pump prices fell progressively to their lowest point in February – but had had largely stabilised since March, in tandem with global crude oil price trends.

But so far, the actual monthly managed float market pricing largely remains guesswork as the government has yet to release details of its pricing formula.

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