Unchanged pump prices in Malaysia raise concerns

Kuala Lumpur

MOTORISTS might have breathed a sigh of relief when the price of retail petrol was kept unchanged in May despite a hike in global oil prices, but the lack of an increase for the third month running has raised concerns as to whether Malaysia's commitment to a free float mechanism is wavering.

Earlier on April 30, a rumour that RON95 would be raised by 20 sen a litre had prompted motorists to rush to stations to top up their tanks. Later, the domestic trade ministry confirmed the price would remain unchanged at RM1.95 (S$0.72) a litre.