New pump prices: Ron95 at RM1.70

Downward revision of pump prices to take effect from Feb 1

The new price per litre for Ron95 is RM1.70 (from RM1.91), Ron97 at RM2 (RM2.11) and diesel at RM1.70 (RM1.93).

This follows the Domestic Trade, Cooperatives and Consumerism Ministry's decision to set the market price of Ron 95 and diesel based on a managed float, starting Dec 1, last year.

It warned oil companies and petrol station operators that strict action would be taken against parties that fail to comply with the new prices.