Malaysia To Cut Gasoline Pump Price By 10 Sen/Liter

24 09 2008

By Serina Joon, Dow Jones Newswires

KUALA LUMPUR (Dow Jones) – Malaysia is expected to cut the price of gasoline at the pump by another 10 sen, the New Straits Times reported Wednesday, citing an unnamed source.

The announcement is expected to be made later today, the report said.

Government officials are scheduled to meet Wednesday to discuss the monthly review of retail fuel prices in a Cabinet meeting, according to an earlier news report.

On Aug. 22, the pump price of gasoline was slashed to MYR2.55 from MYR2.70 a liter and diesel to MYR2.50 from MYR2.58 a liter.

The government had announced Aug. 1 that pump prices would be adjusted monthly according to global crude oil prices.

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