Why are we still paying RM1.80?

The price of oil has gone down so low! Yesterday, it was at 34 US dollars per barrel. The question is why are we still paying at RM 1.80? Didn't I read somewhere that at 60 US dollars per barrel,

the public is already subsidising the government if we continue to pay at this price? This means that the price should go lower! Much, much lower!