Malaysia's retail pump fuel price is 3rd lowest in the world

In summary, the retail fuel pump prices for September 2016 is much cheaper for most Malaysian motorists.

FROM my recent conversations, there are some who still feel that our current fuel price is still stiff, more so when the retail pump price is being compared with the selling price of other oil exporting countries like Brunei and Saudi Arabia. This prompted me to relook at the current retail pump price across selected countries around the world.

If one recalls, we have adopted a new retail fuel pump price mechanism. This new retail pump price mechanism is determined by using the managed float system.