KUALA LUMPUR: The Cabinet has reached a decision on the mechanism on fuel prices and it will be announced on Friday (Jan 4). The weekly float system was initially supposed to start from Jan 1 but has been put on hold. Lim said a weekly float system would be used to determine RON95 fuel price from Jan 1 due to the falling prices of crude oil, which will allow consumers to enjoy lower prices. However, on Monday (Dec 31), the government announced that the retail prices of fuel would remain unchanged for the first week of 2019. On Wednesday (Jan 2), petrol dealers met with Dr Mahathir to highlight their concerns over the weekly float system.

Source: The Star January 03, 2019 08:48 UTC