If this happens, and based on previous months' fuel prices, the price of RON97 might increase by 10 or 15 sen to RM2.70 or RM2.75 per litre.
As for diesel (both Euro2M and Euro5 grades), based on previous months' fuel prices, prices would not stray very far from the price of RON95.
As of Feb 1, prices of Euro2M and Euro5 diesel are RM2.15 and RM2.25 respectively.
Presently, fuel pump prices are based on a managed float system, which was introduced in Dec 2014, and use the average price of the refined product and not crude oil.
Malaysia uses the Singapore Means of Platts (MOPS) pricing for petrol and diesel.
The Government also has a say in determining fuel pump prices to a certain extent.
Last November, it was reported that market forces dictated that the month's fuel prices should have increased by 20 sen per litre, but Prime Minister Datuk Seri Najib Tun Razak said it should be restricted to a "fairer" 15 sen instead.
Second Finance Minister Datuk Johari Abdul Ghani told reporters that Najib had felt that it would be "unfair" to increase the price to that extent.
