The price of RON95 and diesel fuel will go up by 20sen effective 02 October 2014.
The new prices for RON95 will be RM2.30 per litre while diesel fuel will cost RM2.20 per litre.
The Domestic Trade, Cooperatives and Consumerism Ministry said the
government has decided to reduce the current fuel subsidy by 20sen in
keeping with its subsidy rationalisation plan.
“Despite the increase, the Government will still need to spend more
than RM21bil on fuel RON95, diesel and LPG subsidies for this year.
It said the Government also aimed to curb the further smuggling of fuel
by irresponsible quarters and also to ensure that the current subsidy
is not misused.
“The Government will continue to implement the subsidy rationalisation in stages so as to not burden the lower income group.
“We understand that fuel price increase will affect the economy and the
people. Therefore, we will continue to provide incentives to the lower
income group to alleviate their burden,” said the Ministry.
The current un subsidised market price for RON95 is RM2.58 per litre while diesel is RM2.52 per litre.
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