Business News

Malaysia cuts fuel prices

Oct 14, 2008, 10:47 GMT

Kuala Lumpur - Malaysia announced Tuesday it will cut retail fuel prices for the third time in three months, following a dip in world oil prices. From Wednesday, the retail price of petrol will be reduced by 6 per cent to 2.30 ringgit (0.69 cents) and diesel will be cut by 8 per cent to 2.20 ringgit (0.73 cents), said Prime Minister Abdullah Ahmad Badawi. The price cut was due to a marked drop in world oil prices, Abdullah said in a statement. The reduction in the price of gasoline and diesel is the third in three months, after the government raised pump prices by a whopping 41 per cent for petrol and 63 per cent for diesel in June. The previous soaring rise in price of petrol and diesel was heavily criticised by the opposition and consumer groups after it caused the country to be hit by a decades-high inflation rate of 8.5 per cent in August. Crude oil prices have fallen from a record high of 147 dollars per barrel in July to 82 dollars currently.

On the Web

Blowing Up Blogs

Place your ad here
Loading...

Your Talkback on this Story

Similar articles

Malaysia cuts fuel prices for second time in two months
Malaysia cuts fuel prices to ease inflation
Foreigners to pay market price for petrol in Malaysia
Hundreds protest massive hike in Malaysian petrol price (Roundup)
Hundreds protest massive hike in Malaysian petrol price Edd:Changes headline, recasts (1st Lead)

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Like M&C on Facebook

Custom Search

Viral Web

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games Herald; XPRNC; Deutschland (Der Technikbote); Deutschland (Bellalu)

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2012 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint