Almost every individual owns some sort of vehicle, like motorcycle, car, truck, and so on. All of these vehicles run when you refuel them and the demands for fuel have increased quite rapidly within the last one decade. Now the researchers are worried that the oil resources will decrease pretty rapidly if oil consumption will continue to increase. The developing countries like Malaysia, India, etc. need more fuel to operate its industries, run vehicles, and for many other things. The Malaysian government had changed the fuel pricing mechanism from APM to the managed float system on December 1st, 2014. It was expected to offer more in terms of low fuel prices.
Has the managed float system helped people?
The Malaysian government determines fuel price through the managed float system. They first revise the crude oil prices of the recent month and then set the new petrol and diesel prices, according to crude oil prices of the previous month. You can say that the prices will change only if the crude oil prices decrease or increase. You should check fuel price Malaysia before the 1st day of every month. If the prices are the same on the first date of the next month, which means crude oil prices were not changed. If the fuel prices change, it means the crude oil prices were hiked or reduced.
The simplest way of knowing the latest petrol price Malaysia is checking online. You can visit My Petrol Malaysia online and know the current prices.