Petrol price in Malaysia is an important factor when you are trying to save money on your daily needs. The cost of petrol in Malaysia can make or break your budget, so it’s important that you know how much it will be before buying. However, there are also other factors that affect the price of petrol and diesel in this country. Let’s read about Petrol Price Malaysia.
History Of Petrol Price In Malaysia
The history of petrol price in Malaysia has been a roller coaster ride. It started with a high price of RM1.30 per litre back in 2008, which was more than double what it cost at the time (RM0.60).
It then fell to almost RM0.50 per litre two years later when we were hit by global economic crisis, but this did not last long either because prices soon rebounded again to average around RM1 per litre for quite some time until January 2013 when there was another spike due to supply issues caused by bad weather conditions.
The Cost Of Malaysian Petrol In 2022
Crude oil is a commodity which is used for transporting fuel from one place to another. It’s also used as an energy source for power generation or transportation purposes by companies like Petronas Gas BHD (PGB).
The price per barrel changes constantly due to multiple reasons such as international trade restrictions imposed by various countries; political instability within certain regions causing disruptions in supply chains; sudden rise in demand due to economic growth or lower consumption rates.
Why Is The Price Of Petrol And Diesel So High?
The price of petrol and diesel is so high because the cost of crude oil, refining, distribution and retail has gone up. The average price of crude oil per barrel in Malaysia is currently US$80 while it was $50 in 2012. In addition to this there are many other factors that contribute towards the high cost of petrol such as taxes imposed on distributors by government agencies like POMCOT (Petroleum Development Berhad) or PETRONAS (Malaysia Oil Company).
The Actual Estimated Price For Petrol In Malaysia In 2022
The average price of petrol in Malaysia is RM2.12 per litre. This figure will change drastically if you want to know the actual estimated price for petrol in Malaysia in 2022, but it’s still not confirmed.
The price of petrol depends on many factors: the exchange rate between the Malaysian ringgit and the dollar; how much demand there is for fuel; and what happens with oil prices over time.
The price of petrol in Malaysia will depend on several factors. But the most important ones are the global oil prices and global demand for petrol.