The purpose of this research is to review of subsidies removal for fuel, implementation of new taxation system, and drawbacks of green investment as the impacts of falling oil price in Malaysia. To identify the impact of oil price falls and fully deregulated system of retail fuel product for consumers and how it affects the current consumer behaviors and purchasing pattern in Malaysia. Facts were analyzed and explored to understand what kind of impacts will effect on consumers when the price of oil continuously falling in the market. Results of the study showed that the falling oil price has negative and positive impact on consumers and businesses.