How does the MOF monitor global oil price impacts?

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Ministry of Finance Monitors Global Oil Price Impacts Through Continued Observation and Protective Measures

The Ministry of Finance (MOF) is maintaining the retail prices of RON97, RON95, and diesel for the June 22-28 period, with RON97 priced at RM3.37 per litre, RON95 at RM2.05 per litre, and diesel at RM2.15 per litre. This decision is part of an ongoing effort to shield consumers from fluctuations in global oil markets, particularly as the actual market prices for RON95 and diesel have surpassed their respective capped prices.
Maintaining Current Fuel Prices

For the week of June 22 to June 28, the retail prices for RON97, RON95, and diesel will remain at their current levels. This means RON97 will continue to be sold at RM3.37 per litre, RON95 at RM2.05 per litre, and diesel at RM2.15 per litre. This price stability is a direct measure implemented by the government.
Protecting Consumers from Market Volatility

The government has chosen to keep the retail price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre, even though the actual costs in the global market have risen above these figures. This action is specifically designed to mitigate the financial impact of increased international oil prices on consumers.
Ongoing Monitoring and Welfare Protection

The Ministry of Finance has indicated that it will continue to observe how changes in world crude oil prices affect the domestic market. While the specific mechanisms for this monitoring are not detailed, the stated objective is to implement measures that ensure the ongoing welfare and well-being of the Malaysian populace.

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How does the MOF monitor global oil price impacts?

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