Putrajaya revokes price ceiling for petrol, diesel

KUALA LUMPUR, June 10 — The Domestic Trade and Consumer Affairs Ministry has rescinded the price control order that restricted RON95 petrol to RM2.08/L and diesel to RM2.14/L.

The revocation was announced in a gazette dated June 3 while the order itself was approved by Domestic Trade and Consumer Affairs Minister Datuk Alexander Nanta Tinggi on April 10.

“The Price Control and Anti-Profiteering (Determination of Maximum Retail Price for Petrol and Diesel) (No. 8) Order 2020 [P.U. (A) 64/2020] is revoked,” the gazette stated.

The price ceiling had been introduced after the Pakatan Harapan coalition won the 14th general election and previously restricted the maximum retail price for RON95 and diesel regardless of global oil price levels.

Source: MalayMail