Dr Mahathir: Petrol, Diesel Prices Here Still the Lowest
Posted on: Wednesday, 6 July 2005, 00:00 CDT
MALAYSIANS should be realistic and accept the fact that local petrol and
diesel prices may eventually have to be raised if crude oil prices remain
high, Tun Dr Mahathir Mohamad said yesterday.
He said the Government is left with no choice but to allow domestic
fuel prices to increase due to pressure from escalating global oil
prices, currently hovering around US$60 (US$1 = RM3.80) per barrel.
The former prime minister said even if petrol and diesel prices in
Malaysia are increased, they are still among the lowest in the region.
"I was in England recently and the price of the petrol there is almost
RM7 per litre, here it's RM1.57," he said after witnessing the signing
ceremony on the acquisition of Franklin Mint Porcelain Manufacturing Sdn
Bhd by Royal Mint Malaysia in Kuala Lumpur.
Source: Business Times; Kuala Lumpur
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