No April Fool joke: RON97 now RM2.70

4/02/2011 Matt Siow 0 Comments

No April Fool joke: RON97 fuel price up another 20 sen (Bernama)

Friday, April 1, 2011

KUALA LUMPUR: The price of RON97 petrol will go up by 20 sen to RM2.70 per litre effective midnight tonight, according to the Petroleum Dealers Association of Malaysia (PDAM).

The jump is due to unrest in oil-rich North Africa. — Reuters file pic

PDAM deputy president Datuk Zulkifli Mokti said the increase was due to the rise in the price of crude oil toUS$114 per drum this week from US$105.

"This is due to the crisis in the Middle East," he said when contacted by Bernama tonight.

Zulkifli said the price was likely to increase in the future due to the situation in the Middle East which he added could prolong.

On Jan 31, the price of RON97, which was floated according to the prevailing oil market price, rose by 10 sen to RM2.50 per litre.

RON95 petrol remains at RM1.90 per litre.

Metzelder says: What I can say, reduce the fuel consumption as much as possible. I hope that the hike will not trigger increase in food prices as most traders are getting 'super profit' by increasing their prices unreasonably.

What say you? Is this increase justifiable, share you view below!

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