Malayasia may cut fuel prices

Malayasia may reduce fuel prices in the weeks ahead if global oil prices continue to fall, a senior finance minister official thursday.
The government hiked petrol prices 41percent in june to ease the burden of spiralling energy subsidies, but crude oil prices have fallen around20 dollars from record high above 147 dollars per barrel hit earlier in July.
The official said "if oil prices remain between 120 dollars a barrel and 125 dollars a barrel for two weeks," then prime Minister Abdullah Ahmed Badawi could announce a cut in fuel costs in the weeks ahead.
"The cabinet discussed about the fall in oil prices wednesday. There is possiblity of pump prices coming down in Malayasia," the official told AFP on condition of anonymity.
Abdullah's decision to hike fuel prices sparked angry streets protests and triggered calls for the premier to stand down, compounding his woes after disastrous results in March elections.