Malaysia will use 95 RON as benchmark

Malaysian government officials said the country will use 95 RON gasoline, instead of 97 RON, as the benchmark grade for determining retail gasoline prices. Starting September 1, the Domestic Trade and Consumer Ministry (DTC) said 97 RON gasoline will be sold at two ringgit (US$0.56) per liter, up 0.20 ringgit (US$0.06) from its price in early May, while 95 RON will be pegged at 1.75 ringgit (US$0.49) per liter. According to DTC Minister Ismail Sabri Yaakob, the government will shoulder a 0.03 ringgit (US$0.01) subsidy for 95 RON. (May 13, 2009)