RON95 should cost less than RM1.90, says Penang MCA

Ooi (left) with Penang MCA members during the press conference.

THE price of RON95 should beless than RM1.90 per litre after the fall of world oil prices to below US$50 per barrel, said Penang MCA.

Its liaison committee chairman Ooi Teik Liang urged the Finance Minister to look into this matter as theFederal Government would have collected more than RM100mil in taxes over the last two weeks.

“Why must the people suffer and why hasn’t the ministry |controlled the fuel prices although the world oil prices have fallen?” he asked during a press conference at Penang MCA headquarters on Wednesday.

Finance Minister Lim Guan Eng had said that a weekly float system would be used to determine fuel price for RON95 from Jan 1.

Fuel prices in the country will also be lower next week due to this, he said in a statement recently.

With the current system, he said the government sets fuel priceson a monthly basis, so lower prices would only be reflected the following month.

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