Latest RON97 Fuel Price August 2017
Check the latest RON97 price in August 2017. Click to read it before you pump your petrol either in Shell, Petronas, Petron or BP.
|27 July-2 August||2.268||RM2.28|
|3-9 August||2.312||Not fix yet|
Ever since Malaysia government scrapped the fuel subsidy scheme back in 2014, we are getting used to the monthly fluctuation of petrol price now. In fact, it became a guessing game that Malaysians play every month. In March 2017, government decided to up the ante and announce the change in petrol price on a weekly basis instead of monthly.
Although government did shed some light on how the fuel price is being calculated, but no one is sure as it is more complicated than just calculating the monthly average of Crude Oil Price.
Let's play the guess-the-fuel price together here :)
I didn’t ask the bomoh for next week’s RON97 price, instead, I developed my own computerised formula to calculate the new RON95, RON97 and Diesel price, which on average, my prediction only has about 4 sen of deviation on average in the past 6 months.
The formula includes the trend of RM VS USD, refined oil price and some other short, middle and long terms factors.
However, this prediction is not cast in stone and I will update it based on the latest development. The closer towards the date of announcement, the more accurate it will be, so do come back from time to time to get the latest prediction.
If you want to learn more about the secret formula that I use, check the details calculation of fuel price formula here.
MOTAS 97 contract is illiquid compared with MOTAS 92 and MOTAS 95. However, from historical data available, it is traded around USD 2 premium higher than refined 95. Unlike Ron95 and diesel which are mostly exempted from tax, Ron97 believed has to pay sales tax of around 20sen per litre.