Petrol retail price gap may trigger petrol smuggling

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

KUALA LUMPUR: Malaysia’s low petrol retail price could make way for petrol smuggling activities due to the significant retail price difference among its neighbouring countries, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

He noted that the RON95 petrol retail price of RM2.05 per litre is very low compared to the prices in the Organisation of the Petroleum Exporting Countries member countries and neighbouring countries; citing Saudi Arabia (RM2.59 per litre), Indonesia (RM3.74 per litre), Thailand (RM5.63 per litre) and Singapore (RM9.16 per litre).