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Govt set to cut petrol price by 10 cents - news report
Sep 24, 08 2:08pm

According to a news report quoting sources, the government is set to reduce petrol prices by 10 cents to RM2.45 per litre.
MCPX

The NST said the government is due to announce the cut - the second in two months after hiking pump prices by as much as 78 cents in June - this afternoon.
The hike had gone down badly with the public, sparking an outcry and even street protests.

Deputy Prime Minister and newly-appointed Finance Minister Najib Abdul Razak had on Monday told reporters to 'wait a few more days' when asked if it was true the government was planning a second price reduction before the Hari Raya holidays.

Prime Minister Abdullah Ahmad Badawi was yesterday reported as saying the cabinet would discuss the price of fuel when they met today.

"It is better we discuss first on matters related to fuel and subsidies. I don't want to give any impression (on whether there will be a cut). If necessary, we will make an announcement," he told reporters yesterday.

Abdullah had previously said if world crude prices stabilised at US$109 per barrel, the government may consider another 15 cents reduction in price.

The government last month lowered pump prices by 15 sen or 5.6 percent to RM2.55 per litre.

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