KUALA LUMPUR: The RON95 petrol price is expected to decrease by three cents to RM2.27 per litre on Dec 1, if the average world oil price ranges between USD80 and 85 per barrel this month.
Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar said according to the average world oil price for the first 19 days in November, the oil price decreased to USD80 per barrel and it continued to decline until USD76 per barrel on Nov 19 and Nov 20.
"Based on this market price, it is timely for the government to adopt the manage float system which has also been adopted since 2010 to determine the price of RON97 monthly," he said.
RON95 is currently priced at RM2.30 per litre.