RON95, diesel may fall below RM2 per litre from Jan 1

The retail price of RON95 petrol and diesel may go below RM2 a litre from Jan 1, if global oil prices continue the downtrend.

Deputy Finance Minister Datuk Ahmad Maslan said this retail price could be achieved, as during the first 18 days of this month, the average price of RON95 and diesel fell below the RM2 a litre level.

"If the downtrend in global oil prices continues over the next 10 days to come, I am confident, RON95 and diesel can be fixed at below RM2 a litre," he added.

He told reporters this after a briefing and dialogue on the Goods and Services Tax (GST) at the Rembau Parliamentary level at Pedas here today.

Also present was the Youth and Sports Minister and Rembau Member of Parliament, Khairy Jamaluddin and the Speaker of the Negeri Sembilan State Assembly, Datuk Awaludin Said.

The retail price of RON95 and diesel is at present at RM2.26 and RM2.23 a litre respectively.

Ahmad also expressed the hope that with the decline in oil prices, businesses and companies will reduce prices of their products.

He said if the companies concerned refuse to do so, there are various Acts under the Ministry of Domestic Trade, Cooperatives and Consumerism, that can be used to ensure they comply.

On the GST, he said the government had undertaken 500 information programmes at the Parliamentary constituency level throughout the country.

"I am urging the Customs Department to complete all the GST programmes by February," Ahmad added.