RON95 petrol price to remain steady

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

RON95 petrol price to remain steady

Postby admin » Thu Feb 24, 2011 4:24 pm

KUALA LUMPUR: Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said here on Thursday that fuel prices would not be raised despite the escalating global oil price.

He stressed that the current situation could still be handled without increasing the price of RON95 and diesel in Malaysia, which is now at RM1.90 and RM1.80 per liter.

Meanwhile, the ministry would discuss with the Finance Ministry to work out alternative measures to cushion the increase including increasing government spending on oil subsidy, he said.

The Middle East unrest has triggered global worries about oil supply. In response, the crude oil price on the global market has already breached US$100 (RM310) per barrel.

Malaysian government has allocated a subsidy of RM10.3bil ringgit in its 2011 Budget for food and fuels.

The government started to reduce the subsidies on both fuels and food at the end of 2010 to ease its fiscal burden.

Read the full article:
http://thestar.com.my/news/story.asp?fi ... sec=nation
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No plans to increase RON95 price at the moment

Postby admin » Fri Feb 25, 2011 4:32 pm

KUALA LUMPUR: The Government may have to review its budget for the fuel subsidy if the unrest in the Middle East continues.

However, the current budget of RM10.3bil would stay for now, said Datuk Seri Najib Tun Razak after chairing the Umno supreme council meeting here on Friday.

“We will monitor the situation. There are no plans to increase the price of RON95 petrol at the moment.

“As for RON97, it is floated according to the market,” he added.

The Prime Minister cautioned that if there is no review of fuel prices, the subsidies forkedout by the government would rise drastically.

Domestic Trade, Co-operatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob had said on Thursday that fuel subsidy could increase to RM14bil this year if the oil price continues to rise.

Read the full article:
http://thestar.com.my/news/story.asp?fi ... sec=nation
admin
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Location: Kuala Lumpur


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