Are we looking at another downward revision of the retail oil prices? Maybe, said Domestic Trades and Consumer Affairs Minister Datuk Shahril Samad.
However, there MUST be revisions although the government has yet to set the floor prices at the pumps.
US financial firms Merrill Lynch and Goldman Sachs, whose forecast of world crude oil price could hit as high as USD200 per barrel by February next year, were expecting it to go down to between USD35-USD40 per barrel next year.
This means retail price of petrol and diesel in Malaysia, too will have to revised downwards to between RM1.50-RM1.65 and RM1.40-RM1.50 per liter respectively.
Let's wait and see...