Petrol Price Malaysia 23-29 Aug 2018
On 16 May 2018, our 7th Prime Minister, Tun Dr Mahathir was officially announced that the government will fix the recent price and has decided to discontinue the method of calculating oil prices on a weekly basis. For now, petrol prices are set at this rate as below.
|26 July-1 Aug||2.365||RM2.20|
Malaysia government has scrapped the fuel subsidy system since 2014, but now Tun Dr Mahathir announced in a recent press conference, the government will giving subsidies to bear all the rising cost in world fuel price. That’s means there was no more fluctuation price every week and the recent fuel price will be fixed in sometime. So far, no further announcements and details have been made regarding the duration of this rate will be retained. So will this price last forever? Or will it change over world fuel prices?
Let’s find out the petrol price prediction by following us. We'll calculate for you and update our petrol price data a few times a week, so you can get a bit of a picture and a forecast of fuel prices for the future.
In case that government decided to fix the petrol price, if previously my work to predict the petrol price has just increased by 4 times but now it seems more difficult and challenging for me to make predictions. It’s sound funny, right? But yeah, I must admit it. :(
However, I will follow suit and try my best to predict the latest weekly petrol price for you. On top of that, you can check my prediction for RON95, RON97, and Diesel every week on the respective links, and I will update this page at least few times a week to bring you the latest prediction. My prediction is based on a computerized formula, which includes the daily closing MOTAS 95 and BNM USD/ Ringgit price, so do come back from time to time to check the latest prediction.
The forecast petrol price is not 100% correct but shall have less than 2 sen deviation on average based on my analysis. The petrol price is subjected to the sudden change of Government subsidy and new system implemented. The calculation includes short term and medium term of refined oil and Ringgit versus USD. Hopefully, this estimation is helpful to you.
The table below shows the daily value of Singapore Mogas 95 unleaded Platts (average of spot, second and third month in USD) and ringgit conversion data (from BNM, closing time 5 pm) for last few weeks. If you want to learn more about the formula that I use, visit here to check the fuel price formula.
|DATE||MOTAS 95, USD||USD / RM|
|1 August, 2018||81.85||4.0655|
|2 August, 2018||82.82||4.0725|
|3 August, 2018||82.66||4.0825|
|6 August, 2018||83.20||4.0775|
|7 August, 2018||84.62||4.0845|
|8 August, 2018||82.56||4.076|
|9 August, 2018||82.28||4.072|
|10 August, 2018||83.37||4.0795|
|13 August, 2018||83.09||4.0925|
|14 August, 2018||83.87||4.0965|
|15 August, 2018||83.53||4.103|
|16 August, 2018||83.29||4.1005|
|17 August, 2018||83.04||4.104|