Despite the change of ministry leadership, the proposed restructuring of fuel grades and pricing will go ahead as scheduled. The new Domestic Trade and Consumer Affairs Minister Datuk Seri Ismail Sabri Yaakob has announced that the price of RON97 fuel will be increased to RM2.00 per litre from the 1st of September 2009 onwards, which is also the date that RON95 and Euro 2M diesel are expected to be introduced into the market. That is an RM0.20 increase from the current price. We’ve paid RM2 per litre for RON97 before as that was the price during the period of the 18th of November 2008 to the 2nd of December 2008.
It’s not known yet at the moment what the new RON95 grade fuel (which replaces RON92 in the market) will be priced at, but when Datuk Shahrir was the minister he said that RON95 would be priced at the same price as RON92, with the income from RON97’s hiked price used to subsidise RON95 fuel.
Hopefully this is still the plan. Get ready for massive jams at the petrol stations on the last day of August!
UPDATE: RON95 fuel will be replacing RON92 and will be priced at RM1.75 per litre, which is up RM0.05 from RON92 prices. Although nationwide roll-out is only expected to be fully ready by September 1st 2009, the new RON95 grade fuel is already available at 2 Petronas stations in Putrajaya. In addition, there will not be any ceiling price for RON97 fuel so petrol companies can feel free to come up with premium versions such as Shell V-Power as long as they inform the government.