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Oil Prices Expected To Drop

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KUCHING: Global oil prices are expected to continue to fall until January next year based on their downtrend in the first week of December, said Deputy Finance Minister, Datuk Ahmad Maslan.

He said the information obtained showed that the average weekly prices of global oil were falling, and the possibility that fuel such as RON97, RON95 and diesel in this country will be sold at lower prices.

“According to the trend this week, RON95 will fall further, RON97 will fall further, and diesel may fall further from RM2.23 per litre at present,” he said after a giving a briefing on Budget 2015 here today.

He said the rakyat should have already felt the benefits from the drop in fuel prices if the business community took the follow-up move to reduce the prices of necessities.

He said following the announcement of the fuel price on Dec 1, the demand for RON97 petrol in the country had risen fivefold.–Bernama

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