Malaysia's legal system safeguards the identities of minors implicated in court, as demonstrated in the Zara Qairina bullying case.
In a recent statement, the Finance Ministry (MoF) of Malaysia has announced a temporary reduction in the retail price of diesel in Peninsular Malaysia. The reduction, effective from August 21 to August 27, will see the price of diesel drop by five sen to RM2.85 per litre.
This adjustment comes in response to changes in global oil market prices, as the Automatic Pricing Mechanism (APM) formula used to determine the weekly retail price of petroleum products is designed to reflect these international price movements. The APM formula considers global crude oil prices and other market factors to set retail prices weekly, aiming to maintain price stability.
However, it's important to note that this price reduction does not extend to the regions of Sabah, Sarawak, and Labuan. The retail prices of RON97 and RON95 petrol, as well as diesel, will remain unchanged in these areas, staying at RM3.16 per litre, RM2.05 per litre, and RM2.15 per litre respectively.
The MoF reiterated its commitment to monitoring the impact of changes in world crude oil prices and taking appropriate measures to ensure the welfare and well-being of the people are protected. The government will continue to oversee the APM process, which involves periodic price reviews with stakeholder input, to ensure fair and reasonable pricing for all regions in Malaysia.
This temporary price reduction in diesel is in line with the APM's aim to reflect changes in global oil market prices. It's worth noting that no further changes in the retail prices of petroleum products have been announced for the period beyond August 27.
The APM updates the retail prices of petroleum products weekly, with the MoF announcing the new prices that typically change by a few sen to reflect market conditions. The process involves periodic price reviews with stakeholder input, government oversight, and subsidy considerations for specific fuel types like RON95.
In summary, while the retail prices of petroleum products in Sabah, Sarawak, and Labuan will remain unchanged, consumers in Peninsular Malaysia will enjoy a temporary reduction in the price of diesel from August 21 to 27. The government will continue to monitor global oil market prices and take necessary measures to protect the welfare of its citizens.
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