KUALA LUMPUR (Malaysia): The government will announce the new fuel prices on Aug 31, which will take effect on Sept 1, Prime Minister Datuk Seri Abdullah Ahmad Badawi said yesterday.

He said the new prices would be based on the average fuel prices throughout August after deducting 30 sen per litre.

"We are now monitoring the fuel price and I hope it will continue its downward trend."

The prime minister added that it was too soon to predict how far the price of petrol and diesel could be lowered.

"It is still too early. We still have about 10 days to go and I hope there will be no more increase in the price of fuel."