No plans for weekly review of oil prices, says deputy minister

The government does not plan to review oil prices on a weekly basis as it appears inappropriate at the moment, said Deputy Finance Minister Datuk Johari Abdul Ghani. "We cannot implement something which the public does not agree to, because this matter was raised by some associations or petrol station operators. "We feel it is not appropriate at the moment," he told reporters today after releasing 200 patin fish into the Ampang Hilir lake for a fishing competition to be held next Saturday. Prime Minister Datuk Seri Najib Razak had previously said there was no need for further recalibration of Budget 2016 for the time being, as crude oil prices were expected to stabilise at around US$30-US$40 (RM126-RM168) per barrel. The prime minister said the government may consider recalibrating the budget if oil prices fall below US$30 a barrel. – Bernama, February 20, 2016.]]>