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Government Announces Temporary Reduction in Diesel Prices in Peninsular Malaysia
In a statement made today by the Finance Ministry (MoF), it has been announced that the retail price of diesel in Peninsular Malaysia will be reduced by five sen, effective from August 21 to 27. The Minister who made the announcement is from the Ministry of Finance.
The new diesel price in Peninsular Malaysia will be RM2.85 per litre during this period. However, it's important to note that this price reduction does not apply to diesel sold in other regions of Malaysia, including Sabah, Sarawak, and Labuan, where the retail price of diesel remains at RM2.15 per litre.
The announcement does not specify the reason for the price reduction, only stating that it is in line with changes in global oil market prices. The government will continue to monitor the impact of changes in world crude oil prices and take appropriate measures to ensure the welfare and well-being of the people are protected.
It's also worth mentioning that the weekly retail price setting of petroleum products in Peninsular Malaysia is based on the Automatic Pricing Mechanism formula. This means that the prices of petrol and other fuels have not been changed as a result of this announcement. The retail price of RON97 petrol in Peninsular Malaysia remains unchanged at RM3.13 per litre, while the retail price of RON95 petrol in Peninsular Malaysia remains unchanged at RM2.05 per litre.
The announcement does not provide details on any potential impact on the overall cost of living or economy in Malaysia beyond protecting the welfare of the people. The government has not mentioned any changes to the price of diesel sold in Sabah, Sarawak, and Labuan, or any changes to the price of petrol or other fuels.
In conclusion, a temporary reduction in the price of diesel has been announced for Peninsular Malaysia, effective from August 21 to 27. The government will continue to monitor the impact of changes in global oil market prices and take appropriate measures to ensure the welfare and well-being of the people are protected.
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