In a Facebook post, Najib pointed out that prior to the May 9 general election, PH had promised to bring down petrol prices if they managed to wrest Putrajaya from the Barisan Nasional.

“So where has the RM1.50 per litre gone to?” the former finance minister asked.

The APM had determined fuel prices since 1983 before it was replaced by the managed float system in December 2014, following the removal of subsidies.

Under the APM, Putrajaya sets the fuel price at a level that cannot be changed within a specified time frame despite movements in global crude oil prices.

Earlier today, Finance Minister Lim Guan Eng announced the return of the APM when tabling the national budget.

In September, the government said it had no plans to reduce the price of petroleum to RM1.50 per litre unless the world crude oil price drops to that level.

Deputy Finance Minister Amiruddin Hamzah also denied that PH had promised to reduce the fuel prices to RM1.50 in its manifesto.