DECISION ON FURTHER OIL PRICE CUT BY END OF THE MONTH

JOHOR BAHARU (Malaysia), Oct 6 (Bernama) -- The decision on a further
reduction of oil prices can only be made after the last cabinet meeting for the
month of October said Domestic Trade and Consumer Affairs Minister Shahrir Abdul
Samad.

"For the past three days, the price of crude oil has been traded below
US$100 (RM340) a barrel and if the price remains low by end of the month, we
will reduce the price of oil further," he told reporters after hosting a Hari
Raya open house at the Kampung Melayu Majidee Community Hall here
Sunday.

He added that the drop in crude oil price in the global market was a good
sign for the revival of economy in the country.

On June 4, petrol and diesel prices were raised from RM1.92 to RM2.70 and
RM1.58 to RM2.58 per litre respectively but on Aug 23, the government reduced
the price of petrol by 15 sen per litre and diesel by 8 sen per litre when oil
prices began to ease.

Following a drop in crude oil prices globally, the government had on Sept
24
announced a further reduction of 10 sen from the initial price of petrol
(RM2.55) and diesel (RM2.50).

The announcement saw RON 97 petrol being sold at RM2.45 per litre, RON 92
RM2.30 per litre and diesel at RM2.40 a litre.