SHAH ALAM, Feb 28 – The new retail price for petrol and diesel for March will take effect after midnight tonight, says Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek. However, he declined to say if the price would drop or increase, but said the ministry would continue with the price-reduction campaign nationwide, regardless if there was an increase on drop in the price of fuel.
“Oil price is not the main factor that determines the price of goods, but there are other factors which influence prices of goods,” he told reporters after launching the “Lebih Nilai, Lagi Hebat” promotion for Nestle (M) Bhd products here today. Last Feb 1, the government announced a reduction in the retail prices for fuel, of 21 sen and 11 sen per litre, respectively for RON95 and RON97 petrol, and 23 sen per litre for diesel.
To that effect, the fuel price for the month of February was R1.70 per litre for RON95, RM2 per litre for RON97, while the price of diesel was RM1.70 per litre. On the campaign by Nestle, Hasan said it offered savings of between eight and 33 per cent for purchase of 50 products by the company, including Milo, Maggi and Nescafe.