Oil price lowered in December.

For the month of December 2018, the ministry of domestic trade and consumer affairs (KPDNHEP) has lowered the price of RON 97 petrol to RM2.50 per litre. This represents a massive 31 sen decrease from last month, whereby the fuel retailed at RM2.81 per litre.

The new price will come into effect from midnight tonight and remain in place until December 31, which is when the next monthly RON 97 fuel price announcement will be made.

Meanwhile, the price for RON 95 and diesel remain unchanged as they have been since May 30 – RON 95 continues to be priced at RM2.20 per litre and Euro 2M diesel at RM2.18 per litre, while Euro 5 diesel is priced at RM2.28 per litre at the pump. These prices will remain fixed indefinitely.

Conte, Juncker to meet Wednesday

Italian Premier Giuseppe Conte will meet European Commission President Jean-Claude Juncker in Brussels on Wednesday, ahead of this week's EU summit, Juncker's spokesperson said on Monday.

The encounter is likely to take place in the afternoon, the spokesperson said. The European Commission has rejected Rome's budget plan for 2019, which sees Italy running a deficit of 2.4% of GDP next year, saying it breaks EU rules.

This meet in the afternoon to try to avoid EU disciplinary action against Rome over the country's big-spending 2019 budget.

Conte's executive has said an expansive budget is needed to finance key pledges and boost sluggish growth.

After initially ruling out make substantial changes to the package, the government has recently indicated it could amend it to reach an agreement to avert an EU infringement procedure.