PETALING JAYA: Rafizi Ramli has praised Lim Guan Eng's "swift response" to criticism of the government's policy towards fuel prices.

Earlier on Monday (Dec 24), Finance Minister Lim Guan Eng revealed that Malaysians can expect cheaper RON95 petrol next month due to falling crude oil prices.

He said the government sets fuel prices on a monthly basis and this will only be reflected the following month.

To this end, Lim also announced that Putrajaya will be returning to a weekly float for the RON95 petrol price from Jan 1 onwards.

He said this will allow consumers to benefit faster from reductions in the fuel prices.

"Congratulations Lim – swift action. God willing, RON95 price for January will be RM1.90 or lower if cruel oil price continues to fall.

"This is the best method, a weekly price revision that can benefit the rakyat if it goes down. This is coupled with subsidies to protect the rakyat by fixing the price at RM2.20 if oil prices surge dramatically," Rafizi said in a series of tweets.

The former PKR vice-president also labelled it as "The Harapan Way" in a series of Tweets on his personal account.

Rafizi had, on Sunday (Dec 23), in an open letter to Lim, urged the federal government to consider reviewing fuel prices on a weekly basis to ensure they reflect the current crude oil prices.

The former Pandan MP said this would ensure that the people would be able to enjoy immediate savings if there was a rapid drop in world crude oil prices.

“I have consistently suggested that the best and fairest method to ensure that the public is not paying fuel prices that are higher than the market price is by reviewing the prices using a weekly formula,” he said.

Several other parties, including former prime minister Datuk Seri Najib Tun Razak, had also hit out at the government for not lowering the prices at the pump following a decline in crude oil prices.