The government will ensure that the increase in RON 95 petrol prices will be gradual for those who aren’t eligible for targeted fuel subsidies. Fuel prices will be floated next year, with targeted assistance replacing the current blanket subsidy, as announced in Budget 2019.
According to minister of domestic trade and consumer affairs Datuk Seri Saifuddin Nasution Ismail, a sharp hike will directly impact the Consumer Price Index (CPI), which will push up inflation.
“Let’s say on the first day of implementation, the difference (between controlled and market prices) is 30 sen (per litre). We don’t want that. Even though the price must go up by 30 sen, it should be gradually over a set period – say six to eight months,” he told reporters in Putrajaya today, reported by Bernama.
Saifuddin said that his ministry also received guidance from the Statistics Department, which does simulations of the impact of fuel prices on the CPI. Asked if fuel prices will be refreshed weekly or monthly, Saifuddin said that the matter is still being discussed with the finance ministry
“We’ve received plenty of feedback from distributors, oil companies and the public, and we’ll have to conduct in-depth studies to decide on the best format,” he said.
To recap, finance minister Lim Guan Eng announced fuel subsidies targeted at the B40 group in Budget 2019. The mooted plan was to offer subsidy of 30 sen per litre up to 100 litres a month, for cars with engines below 1,500cc. Motorcycles with engines below 125cc will get 40 litres of RON 95 a month at the same rate. Owners of multiple and “luxury cars” will not be eligible, although the definition of the latter is yet to be determined.
The new subsidy system is expected to roll out in the second half of 2019, when it will be implemented in stages.
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Should include national car as well instead of 1.5cc and below
I can understand why PH making this move. Is also exactly the reason why we should not support electric cars. The world should encourage more on the use of combustion engine
I love Turbo and V6/V8 car instead of electric car.
The RM100k perdana is also national car
Oso receivers of BSH Bantuan Sara Hidup Rakyat
How about those buying perdana 2.4 and x70 premium at 130k… They are considered well off
QUESTION: Why take so long to award the petrol subsidy contract ? I smell a rat.I think intense lobbying is going on as to who can get the contract.It may be open tender,but the well connected,I reckon will be estatic.
What so damn difficult ? What nuclear bunker busting computer hardware and software is needed?
If u want to benefit the B40 group(or BRIM category)…gomen already has the database..just get JPJ to update on the 1.5 litre car owners(single ownership) n credit their bank account with the subsidy until the car is sold off.Just get the latest bank account of the eligible car owner.
Do u need 9 months to come out with the computer solution? I believe intense lobbying is going on for the piece of juta juta Rm cake.
My Kyosho nitro RC buggy is 1.5cc
National car dun hv 1.5cc engine
Expect capati incoming again. This Hope Gahmen is HOPELESS!!!
HOPELESS much like Venezuela!
60 years of heavy duty corruption cannot be rectified in 6 months. Simple as that.
Pakatan got a shock of their lives when they took over. Once they checked the books, they saw more was stolen than they anticipated. For example, RM16 billion was missing from LHDN. And that is LHDN alone! What more other places.
So, whatever promise PH made was based on their small estimate of songlap. Now, after opening the books and seeing all the secrets, the songlap is 100X worse.
So how to give cheap toll and cheap petrol?
Blame yourself for tolerating 60 years of corruption that made Malaysia like this
Stop giving lame excuses for your lame Govt. Do you job and fulfill your promises or give us back the old Govt!
give us back the old birkins first! Woii
Free market float, 60 years too late…
Malaysia is an oil producing country. Countries like Brunei sell their minyak to the rakyat for RM1 per litre.
Poor Malaysians got cheated so much all these years.
Too much of corruption in the past. Why is an oil producing country selling petrol to its rakyat so expensive?
Nearly ALL oil producing countries int he world sell petrol super cheap to their rakyat except Malaysia.
Anything to protek protek protek Petronas
Here we go again…” We are an oil producing country….. bla bla bla. 60 years of bla bla bla”
Nothing solid, pure conjecture.
60 years..? But bro… it was floated during last govt administration. Current govt just only realised so they’re just backtracking now.
M’sia not net importer of oil… means we use more than we produce n sell… recently Azmin issued a directive to Petronas to reduce production.. thus reducing income form oil sales. Brace for what coming next.
Hahahahahahaha
We vote to kick out corruption. Hahahahahaha
now we gonna get more curroption hahahah
But you voted for Father of Korupsi. Hahahahaha
Let the petrol station price the fuel themselves.
Open market…
If they want to sell then they must compete.
Increase our salary by 50%… Better
They will hike the price for sure. All will komplot for their own benefits. Don’t be stupid when commenting
Fuel is tooooooooooo cheap. Please increase price and use profit to fund public transportation
Profit goes to proton 3.0
Wasn’t that idea rejected by the people when they voted out the previous Government.
Syukur Malaysia aman. Janji pilihanraya tidak di tepati.
Car oredy 30% cheaper yo… MRT improved too.
Janji RM1.50/L petrol is like a distant dream promised by a Gomen sounded like PH but turns out to be a nightmare. No more PH!
How to give cheap petrol when before PH took over, they did not expect to see corruption and stealing to be 100X worse than they expected
1st time i pump the fuel priced at RM1.60/L and that is ron97.
Mat Rampit entitle to subsidy?
This system is ridiculous as those earning more paid more tax as well, and it goes to subsidise the others ?
Some of the road make open to the Mat Rempit for racing purposes, and G allowed to do so.
The part where price will not be floated if oil prices go down tak cakap pulak.
Which part of float don’t you understand??
I think you are the one who don’t uderstand his statement.
I just watched Spiderman – Into the Spiderverse.
I now believe there’s an alternate universe where Pakatan Harapan have fulfilled all their promises in 100 days as per their manifesto. In that universe also, there’s a spider-pig, and he could swing between buildings and do ninja stuffs although he couldn’t fly.
Now this is interesting. The current market rate for RON95 is estimated around 1.95 – 2.10. Government charge us 2.20, so they are basically making profit by selling petrol to the public.
Next, they will increase the petrol price say to 2.50 using their magical way of gradual increase, but still increase anyway. Will they take consideration of the market price? Assuming that they don’t as what is happening now, and if the price of the petrol in the international market remains the same, they will be making a profit of almost 0.50 per liter. In return, they give 0.30 subsidy to the so call B40 for 100 liters. What a brilliant way to rob the public.
Thank god im using a 1.3 l car
please also provide constant monitoring, i.e revoking targeted fuel subsidy if the person have too many traffic offences.
Wow. If 1-2 years back, opposition back then always make noise that Malaysia is oil producer country and should have lower petrol price… Malaysia no longer producing oil now?
Chinese always said when doing business, either reduce expenses or increase profit looking for more opportunity. For Malaysia, if we unable to increase Malaysia profit now, why not reduce our unnecessary fix expenses? This is one of PH’s manifesto.
if B40 can own a car, they are no longer in B40 group. fuel subsidy is for those in B40 that rides a motorbike.
This is going to hurt the auto industry. Like it or not, middle income earners will trend towards B-segment cars. I predict that anything above B-segment will not receive subsidy, even though the CC may be within range. So expect those with Civic turbo and HR-V to be impacted by this.
When is the imba excise duty turn to abolished?
i would suggest to citizen to declare the income and using tax refund system to subsidies…there is possibility that citizen can cheat on the income…but once you fill…it’s a record there..if lhdn found u cheat…you lose your subsidies forever..
***I welcome any feedback***
P/S: actually the actual Ron95 price is also around RM2.20 now…they didn’t subsidies much…lol
Wow. If 1-2 years back, opposition back then always make noise that Malaysia is oil producer country and should have lower petrol price… Malaysia no longer producing oil now?
Can Gov let us know what is the fuel price if it floate now.
Err, I thought only the old govt has ministers with stupid statements.. seems like new govt inherits the same.. sigh!
New PM = old PM
The policies looked like encouraging more not to work hard. Instead of improving the economy, the govt looks like more keen in playing politics.
This fuel story all over again…. if they just left it as of what Pak Lah did 10 years plus ago…. I recall RM2.70 for the Ron95 then no one will complain this day.
janji tingal janji~~~oo ooo oo
expensive petrol expensive car prices high road tax. syabas.
Sorry did I read that correctly? Price INCREASE? Bolehland muahahaha