Siti Mastura binti Muhammad, PAS MP for Kepala Batas, has urged the government to return to the great days of cheaper fuel while Muhyiddin Yasin was the Prime Minister. Here are snapshots of the price of fuel in Malaysia in 2020: Here are some RON95 petrol prices in Malaysia in 2020:
March 14, 2020: The price of RON95 petrol was RM1.82 per liter.
April 18–24, 2020: The price of RON95 petrol was RM1.25 per liter.
June 20–26, 2020: The price of RON95 petrol increased by 3 sen to RM1.59 per liter.
Here is an indication of oil prices during that time, more or less:
In 2020, the price of fuel in the world market was impacted by the COVID-19 pandemic, which caused a rapid decline in demand:
- Oil prices: The price of crude oil plummeted from $61 per barrel on January 2 to $12 per barrel on April 28, 2020. The price of West Texas Intermediate (WTI) crude oil even went negative for a short time, falling from $18 per barrel to around -$37 per barrel.
- Oil consumption: Oil consumption fell by 5% in the first quarter of 2020.
- Investment: Investment in the oil sector was predicted to fall by 32% in 2020, the lowest level in 13 years.
- Other factors: An oil price war between Russia and Saudi Arabia erupted in March 2020.
Other factors
Looks like Siti Mastura aka ‘Lim Kuan Yew’ has to go back to learn about global oil prices, and subsidy costs.
Read more LM News
Kepala Batas MP
Table of Contents
Read More News on Business News Malaysia
Follow us on:
Read More News #latestmalaysia
Read More News on Business News Malaysia
