No Fuel Price Increase In 2007

There will be no fuel price increase this year, says Second Finance Minister Tan Sri Nor Mohamed Yakcop."

If you are asking about petrol price increase, the answer is no," he said when asked to comment on rumours about the price increase.

In February last year, the government announced a 30-sen hike in the prices of petrol and diesel to RM1.92 and RM1.58 per litre respectively and the price of liquefied petroleum gas (LPG) to RM1.75 per kg.The fuel price increase was the largest ever in the country but still kept Malaysia as the second lowest in the region after Brunei in terms of retail fuel prices.Before that, the last time the prices were increased was on July 31, 2005, when the petrol price went up by 10 sen per litre, diesel price by 20 sen per litre and LPG price by five sen per kg.


So that should put to rest the earlier speculation that a fuel rate hike was imminent. Let us hope that the government keeps to its word on this.