The price of RON95 in April 2018 had been very unique, in the sense that the actual pricing doesn't change throughout the month. Let's look at the expected pricing below (in retrospect).
Price
With Effective From
|
Expected
Price (RM/litre)
|
Expected
Price Range (RM/litre)
|
Actual
Price (RM/litre)
|
5 April 2018
|
2.21
|
2.22 – 2.27
|
2.20
|
12 April 2018
|
2.25
|
2.26 – 2.31
|
2.20
|
19 April 2018
|
2.29
|
2.30 – 2.35
|
2.20
|
26 April 2018
|
2.31
|
2.32 – 2.37
|
2.20
|
Week
Ending
|
Price
With Effective From
|
Average
Mogas 95 Price (USD/Barrel)
|
Average
MYR/USD
|
3 April 2018
|
5 April 2018
|
77.695
|
3.8716
|
10 April 2018
|
12 April 2018
|
79.428
|
3.8726
|
17 April 2018
|
19 April 2018
|
80.824
|
3.8854
|
24 April 2018
|
26 April 2018
|
81.269
|
3.9033
|
Source 1 : Singapore Mogas 95 Unleaded (Platts) Futures Quotes
Source 2 : Bank Negara Malaysia Exchange Rate
As you can see, the average Mogas 95 price as well as the average MYR/USD had been increasing throughout the month. However, the pricing of RON95 remains fixed at RM2.20/litre. This is a very unusual trend since the implementation of the managed float system.
Could this be related to the upcoming general election? Note that the Parliment was dissolved on 7 April 2018. Since this date, the pricing has not been in line with the expected pricing.
According to a newspaper articles extracted from Paul Tan's website, it is stated that "despite global crude oil prices being on an upward trend lately, the Malaysian caretaker government is delaying revising fuel prices in the country, Berita Harian reports" and it is to "benefit the rakyat". It is noted that the Berita Harian's page for this news is currently unavailable but a google cache version of the page is available.
This is kinda weird as there was a news by Malaysiakini dated 22 August 2017 which has the title of "I have no power over fuel prices, says Najib".
Well in any case it is not up to me to give any comments. What is obvious now is that the current petrol price is way cheaper than what it should be. Therefore, pump as much as you can before it reverts to the normal pricing level.
Related News / Articles
- RON 95 - Calculate the price yourself! - article on the formula to calculate the expected RON95 price
- HOW DOES THE GOMEN DECIDE PETROL PRICES IN MALAYSIA? WE TRIED TO CALCULATE ON OUR OWN - another article on the explanation of the formula to calculate the expected RON95 price
- Malaysian Estimated Weekly RON95/Diesel Price - similar prediction of RON95 price in Lowyat forum
- Fuel prices unchanged from April 26 to May 2 (25 April 2018) - announcement of petrol price
- Fuel prices remain unchanged (18 April 2018) - announcement of petrol price
- Fuel prices remain unchanged (11 April 2018) - announcement of petrol price
- Fuel prices unchanged from April 5 to April 11 (4 April 2018) - announcement of petrol price
Last updated: 7 May 2018, 11.10 a.m.
