Price of RON95 petrol will be reviewed in June: Ismail Sabri

Petrol, diesel, LNG, LPG, NGV, fuel consumption, petrol & diesel price, petrol & diesel subsidy, rebate and etc etc

Price of RON95 petrol will be reviewed in June: Ismail Sabri

Postby admin » Tue May 17, 2011 10:27 am

IPOH: The prices of all petroleum products, including RON95 petrol, will be reviewed in June, said Domestic Trade, Cooperative and Consumerism Minister Datuk Seri Ismail Sabri Yaakob on Tuesday.

He said the price revision, to be conducted by the ministry and other agencies such as the finance ministry and the Performance Management & Delivery Unit (Pemandu), would determine whether the prices would be maintained or increased, depending on the government's subsidies.

"According to Pemandu's subsidy rationalisation plan, there will be a revision every six months for subsidies on all products.

"The last revision we had for diesel, LPG and RON95 was in December, last year.

"This means that a mid-year revision will be carried out this month or early June...I can't say what will happen but the revision will take place and the government's subsidy burden is high," he told reporters after officiating the Ipoh Umno Division Delegates Meeting here.

He said this when asked about the current price of RON95 petrol, following the increase in price of RON97 petrol to RM2.90 per litre. On April 2, the price of RON97, which was floated according to current petrol prices, rose 20 sen to RM2.70 per litre, following the Middle East crisis, while the price of RON95 increased by five sen to RM1.90 per litre last December.

Ismail Sabri said that although he had previously stated that petrol prices would not go up at the moment, that did not guarantee petrol prices would stay the same forever, because the government was already burdened with subsidies for petroleum products.

"Last year, the government's subsidy for petroleum products was RM8bil when world fuel prices shot up, and we don't see signs that it will drop.

“If this continues, the government will bear RM18bil in subsidies this year, an increase of RM10bil," he said.

Read the full article:
http://thestar.com.my/news/story.asp?fi ... sec=nation
admin
Informer
 
Posts: 3811
Joined: Thu Jan 01, 1970 12:00 am
Location: Kuala Lumpur

Price review in June

Postby admin » Wed May 18, 2011 3:35 am

IPOH: The Government will review the prices of all petroleum products, including RON95 petrol, next month, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob.

He said the revision, to be conducted by the ministry and other agencies such as the Finance Ministry and the Performance Management and Delivery Unit (Pemandu), would determine whether prices should be maintained or increased.

“According to Pemandu's subsidy rationalisation plan, there will be a revision every six months for subsidies on all products.

“The last revision we had for diesel, LPG and RON95 was in December.

“This means a mid-year revision will be carried out this month or early June.

“I can't say what will happen but the revision will take place,” he said after launching the Ipoh Umno delegates meeting here yesterday.

The price of RON97, which was floated according to the global oil price, was recently increased to RM2.90 per litre following the Middle East crisis.

The price of RON95 increased by five sen to RM1.90 per litre in December.

Ismail Sabri said although he had stated that petrol prices would not go up at present, there was no guarantee that this would remain the same because the Government was already burdened with subsidies for petroleum products.

“Last year, government subsidy for petroleum products was RM8bil when world fuel prices shot up.

“We don't see signs that they will drop.

“If this continues, the Government will bear RM18bil in subsidies this year,” he said.

Earlier in Putrajaya, he said the Government could save RM659.3mil this year by removing diesel subsidy for commercial vehicles, including deep sea fishing boats from June 1.

“The industry will no longer be able to purchase diesel at the subsidised rate of RM1.48 per litre but will have to pay the RM1.80 pump price,” he said, adding that the removal was part of the subsidy rationalisation plan.

Read the full article:
http://thestar.com.my/news/story.asp?fi ... sec=nation
admin
Informer
 
Posts: 3811
Joined: Thu Jan 01, 1970 12:00 am
Location: Kuala Lumpur

Prices of RON95 petrol, diesel and LPG to remain the same

Postby admin » Wed May 25, 2011 11:07 am

PUTRAJAYA: In a move that will please many Malaysians, the government has decided to maintain the prices of RON95 petrol, diesel and liquefied petroleum gas for the time being.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said the decision was made after an in-depth discussion on subsidy rationalisation at Wednesday's weekly cabinet meeting.

"The decision was made taking into consideration the interest of the people," he told a news conference at his ministry, here Wednesday.

The government would however continue to study the need for subsidy rationalisation in view of the increase in the prices of oil and gas in the global market.

Asked whether there was any discussion on the time frame for the prices to remain, Ismail Sabri said there was no discussion about time frame. The price of RON95 petrol is now RM1.90 per litre and diesel at RM1.80 per litre. LPG is priced at RM1.90 per kg.

The last time the prices for these three items were adjusted was in December last year.

Ismail Sabri said the decision to retain the prices of the three items meant that the government had to bear fuel subsidy totalling RM18bil.

Read the full article:
http://thestar.com.my/news/story.asp?fi ... sec=nation
admin
Informer
 
Posts: 3811
Joined: Thu Jan 01, 1970 12:00 am
Location: Kuala Lumpur


Return to Petrol & Diesel Price, Rebate & Subsidy

Who is online

Users browsing this forum: No registered users and 0 guests

  • Lazada Malaysia Lazada Malaysia Lazada Malaysia Lazada Malaysia
cron