Government has no plan to review oil prices on weekly basis - Johari

The government does not plan to review oil prices on a weekly basis, as it seems to be inappropriate to be implemented 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 fish the Ampang Hilir lake for a fishing competition to be held next Saturday (Feb 27).

Prime Minister Datuk Seri Najib Razak had previously said there was no need for further of Budget 2016 for the time being, as crude oil prices were expected to at around US$30-40 (RM126-RM168) per barrel.

The Prime Minister said the government may consider recalibrating the budget if oil prices fell below US$30 a barrel.