Accusations of the government making a profit from hiking the prices of all fuel types by 15 sen per litre this month are baseless and are only meant to confuse the public, according to second finance minister Datuk Johari Abdul Ghani as reported by Berita Harian.
The official told the Malay language daily that the rise in prices has been derived from global crude oil prices, which have climbed sharply since October. As such, he claimed, the 15 sen increase is in line with the managed float system introduced in December 2014.
Back then, the Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) explained that under the new structure, it would monitor the average fuel prices for the first 19 days of each month to see if it warranted a revision. If there was a marked change, the average price of the last 10/11 days of the month would dictate the pump prices for the following month.
“Crude oil prices last month have been fluctuating, from US$43 (RM180) to US$54 (RM226) a barrel,” Johari said. Fuel prices now stand at RM1.95 per litre for RON 95, RM2.30 for RON97 and RM1.90 for diesel, up from RM1.80, RM2.15 and RM1.75 per litre respectively in October.
Johari added that the prices of fuels are influenced by a number of factors, including the foreign exchange which fluctuates according to the flow of the global economy. “We use a “one month behind” mechanism, so the fuel prices for December will drop if global crude oil prices also drop this month,” he said.
Looking to sell your car? Sell it with Carro.
I’m not sure whether these figures are accurate price of crude oil per barrel is 50.37 .
News I read today was crude oil fell sharply to below $50
Yes exactly what I read as well… I dont understand the rationale
well the article did also forex is also a factor… go figure
Ask him car price follow market price without tax… can anot?!?!?! Worst statement ever by BN dumno Minister !!!
jep will guide u..
Life is tough. Inflation is high. Cant even afford to buy a low cost house now.
Better we sell Petronas to China also since we are already selling national assets to China. No point having Petronas when Petronas exports their fuel instead of giving cheap oil to the rakyat of Malaysia.
Oil below your feet belong to the rakyat of Malaysia. It is our right to use and own this oil cheaply
Bro, you should bersyukur with the current price..China Ron92 cost MYR 3.90/liter..but of course China government use the money for development to help their citizens..
You don’t compare with a country that their oil production is not enough to supply to their own citizens.
low cost house also cannot afford to buy?
like that u are at poverty level already.
What a bunch of lies. Don’t lie to the people lah. Look at Singapore also, they also use floating system, yet, the price of petrol is cheap like last month
Eventhough I don’t like the hike, it is 15 cent dude. Not RM1.5. Even in Sg the price fluctuate in cent. You talk like the hike is RM1.5 here in MY and fluctuate by cent in Sg.
It is 15 cents per litre.. Not 15 cents per full tank. Big difference dude. When you pump full tank, sure you will feel the pinch unless you are a rich fag.
He is rich fag n you are not.. so, work harder bro..
why still need to control price for RON97?
Datuk Johari, you’ve taken too much Dedak already. Please try some Kangkong Belachan as it will make you think better. Logically speaking, without Profit, how can enterprise survive let alone multiply.
jangan lah cakap sampai mulut berbuih … just reveal the formula and let’s get on with our lives.
Ha ha ha… If you pull out last 3 months (90 days) crude oil prices, how could you just jacked 1.5 cents? Most Malaysian aren’t idiots, but you are such a moron minister. Go to hell…
Datuk Johari, Your logic of using – We use a “one month behind” mechanism is out of this world. No wonder we are now behind our neighbors.
When crude oil prices dropped, fuel price remains unchanged. But when it goes up, fuel price goes up. The fallout from 1MDB is biting us Malaysians already. I am wondering how many who bought the Perodua Bezza, Proton Persona and Saga on 100% loan will be able to service their loan given the rising prices of food and essential household items in tandem with the increase in fuel price.
No one is going to question you if you make the calculation matrixes transparent to all.
Then people will understand.
Why hide behind a veil of opacity?
ini minister siapa, never heard of. wonder what school he graduated?
Hard to believe the folks who claim GST would lower prices. Credibility already gone.
What’s worst is that a huge number of people actually BELIEVED them. God help us all
Question, let’s say the month of November’s trend is very similar to September’s, will we see a drop in 15sens in the following month???
in my opinion it is better for the gov to remove all subsidy and let the market set its own price whenever it deem fit and let the consumer choose to buy it or not. The current system give a bad image for the government from my(consumer) perspective even if they try to do good.
no subsidy(for everything & everyone) = good government
They can give one off aid if they want to but regular aid is bad.
Agreed. Advocating for a free market. Government can instead do a simple tax rebate based on income.
TQ, the 47% ‘sleeping beauty’.
Just KISS – Keep It Simple Stupid
let the petrol price 100% float & scrap the BS “manage float system”
let the station operator compete with any price/l they like to offer.
If you think this is not good for the consumer then it is 100% the gov is making extra profit hiding behind the “manage float system”.
Yah, right.
Comments TLDR:
Price go down, ini bukan krana NajibBNGov.
Price go up, ini semua salah NajibBNGov!
Name one other time prices in our country fell other than kangkung.
Jahanam.. even when you take into consideration of exchange rate, you have to take into account the addictive used to make it into each ron and other declared benefit by each company.
Think carefully. Where else petronas have their present selling their brand directly in the world? Which other companies paying directly to gomen years after years in billions? Publics are not as confuse as you are minister. Gomen is confusing themselves on this pricing mechanism. Tell the truth and the truth will let you free in the next election..
I wonder if Datuk Johari ever visited this site or not..
We all badly need some other forms of alternative energy… time for toyota to release that toyota free piston engine + electric drivetrain!
and one thing for sure, follow market price is a lie. even follow market price no profit also a lie because we our country produce oil, it must be cheaper than market price, if not our country must be developed and citizens must be rich but neither these happened. meaning this whole thing is made up and all our money hilang just like that. thanks to these bunch of clowns working for a bigger clowns named jibby.
Bro, do you know how much Malaysians fuel consumption per day? And how much fuel we actually produced? And, how much from fuel produced can be refined to diesel or petrol?
If you dont know, you are the liar.
well…Malaysia fuel never use locally…dude.. and the fuel/crude oil account is only HOLD by PM…so, no one knows…
Rompak RM2.6 bilion, then give back 5 sen. Padan muka semua!!!
lmao…this kind of calculation is kindergarden level…..Hello childrens, today we pick 2 of the numbers and divide by 2….
This is legit confusion. I am also abit confused why hike is so much suddenly.
But things like hotdog shouldnt confuse people. However, Government says people can get confused. Actually….I am confused with my Government now.