RON 95, diesel to go up 20 sen at midnight
MalaysiaKini.com
Oct 2, 2014

Another fuel hike is in store, with the RON95 petrol and diesel prices slated to increase by 20 sen per litre at the stroke of midnight.

This was announced by the Domestic Trade, Consumer Affairs and Cooperatives Ministry this evening.

To cushion the impact of the price increases, it said the government will increase the Bantuan Rakyat 1Malaysia (BR1M) cash aid when it is tabled as part of the 2015 Budget.

At present, RON 95 is priced at RM2.10 per litre while diesel cost RM2 per litre, and will increase to RM2.30 per litre and RM2.20 per litre respectively.

According to the ministry, the market price at the moment is RM2.58 per litre for RON 95 petrol, and RM2.52 per litre for diesel.

“Despite this subsidy reduction, the government estimates that it still needs to spend over RM21 billion for RON 95 petrol, diesel, and liquid petroleum gas (LPG) subsidies for 2014.

“This move is in line with the government’s policy of subsidy rationalisation to ensure that the country has a strong financial position,” it said.

The last hike for these fuels was on Sept 3 last year, which was also a 20 sen hike starting at midnight.

At the time, the government was subsidising 63 sen per litre for RON 95 petrol, compared to 47 sen per litre last month.

A survey carried out by Bernama at Petronas, Shell, Petron, Caltex and BHP stations saw motorists queuing up at the pumps of petrol stations since 8.30pm tonight when news broke out about the price hike.

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