Ahead of Budget 2014, which will be tabled by Prime Minister Datuk Seri Najib Tun Razak on October 25, Parliament yesterday approved the Supplementary Supply (2013) Bill for RM15 billion, and of this amount, RM8.9 billion is set to be channeled towards fuel subsidies, reports indicate.
“The petroleum subsidies are a huge burden on the government. Back then, one tong was US$102, but it increased to US$115 in August. This supplementary bill allocates RM8.853 billion for subsidies,” Deputy Finance Minister Datuk Ahmad Maslan told reporters.
Last month, the government reduced subsidies for RON 95 and diesel by 20 sen in a move it said would save about RM1.1 billion this year, and if extrapolated to a full year, can reach savings of RM3.3 billion annually. A massive RM24.8 billion had earlier been allocated for fuel subsidies this year.
In August, the actual price of RON 95 petrol was RM2.79 per litre, while that of diesel was RM2.73 – at the previous retail rate at the pump of RM1.90 per litre for RON 95 and RM1.80 for diesel, per litre government subsidisation was 89 sen for RON 95 and 93 sen for diesel.
In September, the unsubsidised price of RON 95 was listed as RM2.73 per litre, and that of diesel at RM2.80. As a result of the price increase for both on September 3, government subsidisation at the pump dropped to 63 sen for RON 95 and 80 sen for diesel. The price of market float RON 97 was also increased by 15 sen to RM2.85 on September 4.
According to a report on Monday, Malaysians can expect no fuel price increase in the near future. Rumours had surfaced last week regarding another fuel price increase, leading Ahmad Maslan to come out and deny talks that such a hike would take place.
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At least it’s better than blowing millions on shoes, clocks that don’t work.
Remember, it is a report. The report says so. And it is the ultimate truth.
China claimed that she is the most liberal country.
Apa yang keluar daripada mulut menteri China pastilah tepat and mesti dipercayai, kan beliau orang besar VIP, ok.
1. Remember the tip of iceberg.
2. No legal actions have ever been taken against anyone in China. I didn’t mention any country beginning with m.
Kerajaan umno bn kaki kencing penipu, bila nak bagi pada rakyat macam macam diambil kira, tapi kalau projek berjuta ringgit yg membazir utk kroni mereka buat tak ada ambil kira apa pun contoh lembu nfc ada banyak lagi cuba anda cari sendiri btul tak.
USD115 in August and US110 in September. Eventually today oil price is at USD107 so by next month government should cut ron95 price down back to rm1.90
Bro, You are half-correct. Whilst the world crude price is ups and downs, the retail price is fixed; which translates to subsidy for that particular month increase or decrease. If world price is ups, subsidy will increase and vice versa. And in simpler words, since retail price is increase, the government need to pay for lesser subsidy. And according to the article above saving of RM3 billion.
Whilst many of us feels angry because of our nation high debt, the govt tried to curb or decrease the debt by reducing subsidy; so that the saving can be use for other purpose. Still we angry. I don’t understand.
dear cosmo artemis: could you you please elaborate on the word “other purpose” in the ‘so that the saving can be used for other purpose’? is it like what they spend according to AG repot recently?
we angry coz when they claim reduce subsidy and channel money money for development but then auditor report come out shows they just telan the duit! how can you be not angry?
anyway! no unsubsidised fuel prices without car prices being lowered and public transport being upgraded!
Cosmo Artemis: Do you know how much PETRONAS pay tax to our beloved government per year, the subsidies is only a few percent of it? Do you know that this subsidies are not really from government? Do you know Malaysia is having the 2nd most expensive cars in the world? If government taxing high on cars, then they must subsidise heavily into fuel. Else don’t tax on cars.
“other purpose”..? you mean masuk poket kroni ahh..?
Somehow this is forced by G to Anthony to write up on how proud G is giving the subsidies.. PUI !!!!
The piece is based on news reports – I have merely reported the salient points without embellishing. In essence, it’s news reporting.
Why G never have the courage to say no sub. Just make all fuel type pricing float. Car price down. It won’t hurt G so headache anymore. If G treat us well, even price increase per barrel will not affecting us. G just out of cash in hand. Do they?
Your comment shows how smart you are
Agree.
Floating = good with Tax Free Car.
low new car price, result in low car second hand too.
people who willing to buy second hand car still able to enjoy even lower car price..
it’s balance..
It’s better then GOV keep on saying as if he subsidies us..
Then it will only benefit the rich’s… Poor people will still drive old used vehicle no matter how cheap the car is… Increasing in fuel price will make the poor becomes poorer..
cheap car means no more installment, installment money can pay the fuel, it is good even to the poor people.
Now we pay double every month for a car, half of it should allocate as fuel usage if there is no ekais duty
I don’t agree with subsidies generally and I think the petrol price should float in return for zero tax vehicles. Rid those damn AP cronies. But I also fear that if subsidies are removed and the government suddenly have these extra cash, how many more cronies are going to get rich with mega projects that the government will sure to create. I am a very concerned citizen who thinks that subsidies is bleeding the country’s money, but removing them also means these extra funds will also be bled into a selective hand full of cronies’ pockets.
Wow.. they are subsidising 12 billion litres for the rest of this year? am I doing this correctly?
but i thought we r oil producing nation, so v deserve low price for fuel,am i right??? so why the hell the government are complaining about it and have to brag about it???
yes, only Malaysia government dare to say it is *subsidy*, and worst, average joe here believe in this concept of petrol *subsidy*.
how many $billion Venezuela subsidies to his ppl course 120 little free for a month there..gg
malaysia still net oil exporter… do they report to public how much petronas earn each year? 24-30billion is not a problem for petronas!!! Petronas belong to Malaysia rakyat!!!
and who create Petronas….
Based on Bloomberg 2013 Feb data, Malaysia petrol is the most expensive compare to those net oil exporter country(Iran, UAE, Kuwait, Saudi, Venezuela)…
http://www.bloomberg.com/slideshow/2013-02-13/highest-cheapest-gas-prices-by-country.html#slide62
Sibuk naikkan harga minyak, bila nak turunkan harga kereta? Tunggu PRU14 ke? Selamanya penipu………Jam dinding harga RM100 tetapi kerajaan beli dgn harga RM3810 ni apa cerita. Baca laporan Audit Negara segalanya macam sampah.
Rakyat suruh berjimat dan berkorban tetapi kerajaaan korup dan membazir. Apa cerita????
Mimpi ler lu mamat. jgn harap.
jam dinding jenama ORIS bro..
swiss made, diamond encrusted.
What subsidy?? we have already paid back the subsidy thru our high car prices (already taxed by the govt mah!)
If the G can be more diligent in other spending, perhaps it won’t be a burden?
http://www.kinitv.com/channel/8/qU_JusRy-Y8/
That right crz, We alrdy paid back subsidy fuel through our current car. Even Malaysia has its own petrol company but it is total failure. Price is still expensize. Compare to a small country like Brunei. Look at their petrol price, so much different even a small country know how to deal with things. Second will be car price in Brunei, so much cheaper. Brunei Sultan I support you! You give your citizens a better living with so much subsidies given. Thumb up Brunei!
The price of oil slipped below $102 a barrel Tuesday after parts of the U.S. government were ordered to shut down because of a budget impasse in Washington.
Benchmark oil for November delivery fell 97 cents to $101.36 a barrel in midday trading in New York. Brent crude, a benchmark used to price imported crude used by many U.S. refineries, fell $1.36 to $107.01.
Relatively weak oil demand in the U.S. could weaken further if the shutdown curbs economic growth and continues to stop 800,000 federal workers from driving to work, according to Phil Flynn, a senior market analyst at the Price Futures Group.
“A prolonged stalemate could slow the economy and US oil demand,” Flynn wrote in a report Tuesday.
The national average price of gasoline fell a penny to $3.39 per gallon, according to AAA, the Oil Price Information Service, and Wright Express. It’s the 30th straight day of declines, and the average is now lower than it has been since Jan. 30.
Analysts say lower demand for gasoline in the fall, the switch to cheaper winter blends of gasoline and a smoothly-running refinery system is helping to push prices lower. They expect the price to sink further in the coming weeks.
Later in the day, investors will begin monitoring fresh information on U.S. stockpiles of crude and fuels.
The American Petroleum Institute will release its report on oil stocks later Tuesday, while the report from the Energy Department’s Energy Information Administration — the market benchmark — will be out on Wednesday. The EIA says it will continue to operate despite the shutdown for several more days.
Data for the week ending Sept. 27 is expected to show a build of 2.4 million barrels in crude oil stocks and a draw of 1.4 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
Latest Honda All-New Accord (as per advertised in KK Daily Express 27/09/2013)2.4 VTi-L 2013 Model: Labuan Price RM 133,800.00, Sabah/Sarawak Price RM 173,800.00. Difference is RM 40,000 divided by RM 2.73 Ron 95 (Harga sebenar) is 14,652 litres which roughly can go to (let say 10km/litre) 146,520 km. Average yearly mileage 70,000 km so this buyer from Sabah/Sarawak already paid upfront 2 years of fuel usage already. So imagine all this while THE RAKYAT has already paid upfront HUGE SUM of MONIES to pay all these Vehicle Taxes and many other exorbitant charges (AP/Duties/Service taxes/Plate number charges/On top of that,insurance which covers includes the full amount of loan taken/ Bank Interest on top of the actual car price and said taxes/Road taxes according to CC/Toll charges of vital road connection which never have any alternative routes (tq to semivalue). So my car loving family and friends, think before you vote next time.
And by the way have you guys notice that the BN Government never ever and probably will never do release the actual amount of fuel subsidies breakdown. What I mean is how much of it is actually for petrol motor vehicle users & diesel motor vehicle users versus the Independant Power Producers (IPP) diesel/coal/petrol/gas subsidies. Hmmmm makes you wonder bout all this whole hoopla and bull crap actually
Songlap tak burden la..
I believe all KDNHEP need to monitor all petrol station next to neighbour country especially Perlis, Kedah, Kelantan and Johore..
My recent visit to JB seeing most of this bugger filling up petrols in their container in boot using local car. Some even can be seen overloaded at back but with empty passenger. Their modus operation to do it at midnite. Their target is petrol station at housing area such as Bukit Indah, Perling, Skudai Kiri etc.
See… Our petrol and diesel is so cheap that people from other country come and buy our petrol.
what is there to be proud of or to be burden at when you spend the rakyat’s own money back to the rakyat?? I confuse la with Malaysia government..
The govt has forgotten the sales tax and excise duties they imposed on cars are actually the collection of fuel subsidies upfront.
Betulkah ada subsidi??? Sblm ni RON95 naik 20 sen. Bila kantoi RON97 lagi murah (+ subsidi RON95)…esok terus naik RON97…BN penipu!!!
Oil price increase Petronas revenue also increase, which mean country income tax also increase … So what’s the excuse for our petrol price increase?