GEORGE TOWN, MALAYSIA: Fuel prices will go down further in the near future, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said.

However, he would not say by how much.

"I can only confirm that there is still room for the price to drop.

"However, I do not think the fuel rebate system will continue after the cycle ends in March next year as most consumers prefer to have the rebate worked into the pump price," he told a press conference at Sunshine Square in Bayan Baru yesterday after launching the supermarket's price reduction campaign.

Petrol and diesel prices at the pump have dropped to RM1.90(S$0.79) per litre for RON97 petrol and RM1.80 per litre for RON92 since early this month.

Asked if the ministry would impose a floor price for fuel, Shahrir said there were no such plans.

On subsidies given to taxi drivers when the fuel price was above RM1.92, he said they should now buy fuel at the current pump price.

"The subsidies allowing them to buy petrol at RM1.92 were given when fuel prices were high.

"Subsidies are not things that carry you all the way. Taxi drivers should also be happy that the price has come down," he said.

Shahrir said taxi drivers using diesel could use their subsidy cards to buy diesel at RM1.43 rather than pay the RM1.80 pump price.

"There is no reason why they cannot make a reasonable living with the subsidy," he said.

Earlier, Shahrir commended Suiwah Corporation Bhd for reducing the prices of 600 types of products, ranging from fresh and frozen food to daily necessities.

He also urged state governments and local authorities to do their part in keeping the prices of goods reasonable.