The government says there are no immediate plans to review fuel prices despite the price of crude oil dropping to its lowest level in four years. It will however continue to monitor global oil prices and make a decision to review the pricing if needed, according to a news report.
“We have no plans to review the fuel price, but we will work with the Finance Ministry and Bank Negara Malaysia to monitor the price of crude oil. We will only make a decision if there is a need,” Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek told the New Straits Times.
The price of oil reached its lowest level in four years on October 15, at US$83.37 a barrel (RM272.93), brought about by a glut in supply and weak market demand.
Petroleum Dealers Association of Malaysia (PDAM) president Datuk Hashim Othman added that before reviewing the price, the government needs to forecast many things, including the (state of the) country’s and the world’s economy in the next few months. The government will also have to look at the average price for a month, he added.
The country’s petrol and diesel prices at petrol stations are regulated by the government with the Automatic Pricing Mechanism (APM), Hashim said, adding that through the system, the retail price in Malaysia would not be affected by the fluctuations in the cost of fuel production.
“According to the APM, the difference between the retail price and the actual price will be borne by subsidies and sales tax exemptions. APM standardises the price of fuel at pump stations, fixes the margins of oil companies and dealers, ensures distribution channels are secure, and minimises disruptions of petrol and diesel supply,” he said.
On October 2, the price of RON 95 and diesel at the pump was increased by 20 sen to RM2.30 per litre and RM2.20 per litre respectively. Pricing for unregulated RON 97 remains at RM2.75 per litre after a previous reduction earlier in September this year, with no change in pricing for LPG.
Meanwhile, the government has announced that a mechanism or plan for the rationalisation of subsidies for RON 95, diesel and LPG is set to be unveiled in the next few weeks.
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They shd also show how much of duit rakyat are being used to subsidize ministers’ salaries & their allowances. Plus those KSUs who are not doing anything yet getting fat income & allowances.
Govt very quick to raise prices but will never respond to fall in market prices. One thing for sure for all govt: what’s raised will never be lowered.
PM say never burden Rakyat.
Increase price Yes, Add taxes Yes.
Lowering price No.
Never trust his word, same goes to Ministers talks all crabs.
What do you mean by add taxes? GST? The GST is to replace two taxes i.e. the Sales Tax and the Service Tax. It’s not an additional tax.
The real reason is:
When world oil price falls, actually Malaysia being net oil exporter Petronas profits decreases our G have less income thus won’t lower pump prices.
What they say previously that when world oil prices we should increase pump prices is all BULLSHIT!
They will increase price again in another few months before GST.
@Bullshit
you speak my word.
@Andrew Yong
Replaced or Add is still burden Raykat, wait and see when GST start you will understand what i mean.
Everything go up, expect Rakyat salaries.
Those who are still trapped in the subsidy mentality will keep barking on every step gov make to revamp the subsidy system.
If you don’t happy in Bolehland, you can pack your bags migrate to Kiasuland or Koalaland..Everything is free and taxless..Isn’t it that is what our people do?
Ah Beng, if you too happy, you can pay tax on our behalf and buy 10 Iriz to show your support.
Supporting in talking and chasing ppl out of Malaysia is easy and CHEAP.
And you please don’t act CHEAP?
its not about GST. Its about those oil price. Many country use World Market price (change regularly) so it increase or decrease according to world market price..
We unfortunately only follow if the world market price increase but not when it go down.. kinda frustrated…
“price will up because world price up, but no we will not reconsider to down the price even the world price cut to half” that our profit margin’ PIFF U!!!
Of coz. Barang Naik!
Janji Dicapai.
wtf, inflation becoz of govt to increase their own pocket, not to reduce our burden. Oil national resources now become BN resources dy……wow i can c more than 40 BN online paid helpers in this topic disliking our comments
don’t get fooled, they will be songlap-ing the whole 4 years then when the election comes it lower the petrol price to it maximum, it won’t even hurt them for the few months of low fuel price. after election then repeat, same shiet.
After Proton can offer Iriz Diesel engine, only then Euro 4 fuel can be sold here.
Nampak tak permainan Proton dan MITI?
If Proton could come out their diesel engine in 2027, then Euro4 will be available only in 2027 also?
Everything is about Proton, if Proton is hopeless, we are helpless. sigh…
I don’t see the play here? If @megavalve and @samel0rrr don’t happy in Bolehland, you are most welcome migrate to Kiasuland..
Ah Beng when cornered always asked others to migrate.
Such a lame loser mentality. Hahaha!!!
See the typical Proton fanboys, if you not happy with Proton, you get out of Malaysia. Didn’t know Proton/your grandpa own Malaysia.
We all not happy with Proton, can Proton just get out of Malaysia? lol
@Pow. What’s raised will never be lowered? Agreed. Just look at the goods prices sold by suppliers/retailers like you.
Simple logic: Government suck Rakyat, Proton suck Government.
That’s why I always say: No matter Proton cars good or not, can sell or not, Proton will get money.
This have nothing to do with Proton. If you really want to be stupid about it, UMW is a crony too. One hell of a big company swallowing just about anything in public transportation construction nowadays. They are far bigger crony and songlap more rakyat money than Proton.
Yeah, that UMW which own UMW-Toyota. Asshole.
UMW and Potong both suck our money.
The only difference is.
UMW suck once while you buy toyota.
Potong suck twice while you buy potong,
and suck your EPF too.
See the Proton fanboys typical style, when they are hurt by the truth, they call people asshole, bodoh this and that.
Proton ask RM1600mil from government, you pay is it?
There maybe cronies in UMW also, but at least UMW didn’t beg money from government like that. Make your fact right. Wake up!
Bodoh again.
Bodoh!
Gov of doing things.
Increase price immediate procedure.
Dropping price wait here wait there until 5 years past, in the end never decrease anything.
Talk kok and dishonors Gov.
BN macai padan muka.
OMG…it really showing the G was running out of $$$…The G even hope the world crude oil price drop further so that they can save more subsidy…puihhh
CCB Ayam will ask you ..
dont eat sawit, but Kangkung.
Dont fill petrol but Kerosene.
Why the hippo dont use plastic bag?
Actually if crude oil price drop, G will losing $ as well as PETRONAS (crude oil exporter) will pay less revenue to G…
Malaysia crude oil price is different to normal crude oil. “Tapis” oil are grade A
Consider Top oil.
We export premium oil , but we use import low grade oil.
Regardless of how “premium” Malaysian oil is perceived, the regional oil producers (Petronas in particular) would be hard hit by the oversupply of light sweet crude in the global markets and would need to mark down their prices accordingly.
If global oil prices sustain at the current levels in the next few months, “low grade” imported petrol prices should be inching down as well.
Major, MAJOR question right now is what happens to the surplus from charging in excess to market prices if recent levels are sustained? Will it go into reserves as subsidy “paid in advance” to the local distributors, saved just in case global prices spike up again? Will they keep them as profits? Will the government tax them on the surplus?
diu nia sing!
Don’t reduce, maintain the pump price BUT reduce more subsidy untill 100%. Then you can stop harrassing rakyat with your subsidy story especially nearing PRU season.
Thought RON97 price are suppose to revise back to back according to market price of crude oil in monthly basic ??
You can expect the price at the pump will drop later because today’s crude oil price is for the next few months delivery.
Stop this bs about subsidi. just sell it according to market price- for ron 97.
for ron 95, sell it at market price. same as vehicles, sell it at market price + gst.
no more subsidy problem.
what should be the ron95 harga sebenar now? I won’t surprised if it is below rm2.30
The formula to calculate is top secret.
Yup! Also no need to pay a few hundred millions of ringgit to software application company to develop petrol rationalizing database for different category of cars/owners to pay different rates for petrol, pui….
Yes! Remove subsidy.
Remove excise, import tax, sales tax
GST replace all tax!
first of all i want to LOL….
second, the G just want $. keep it at this price. don’t create another round of “petrol price increase” that cause a domino effect of price increase on goods.
thrid, can’t they just float it now? why still want to complicate the process of rationalizing?
The G won’t take the $$$ from its Rakyat, they will use the $$$ to build good living environment for its Rakyat.
See what we have now: Good infrastructure?? Good public security?? Good education?? Good welfare??…..
All sh******t!
They’ll reduce by 10cent a few weeks before GE14
Then raise it after they win the election. Win liao lor
Just wondering…. has the govt ever say what they are actually doing with all the money saved from reduction in subsidies?
Reduce, save, reduce, save… but silent on where is the savings channeled to?>
Proton ask a cut, 1MDB need to pay the debt, BR1M need to give money, cronies need a portion… These are where the money go.
There are no saving by the Gomen! They have dug huge holes and now need to refill the holes with our tax money. They had issued many bonds A.K.A ‘I OWE YOU’, just like car loans, the bonds need repayment by the Gomen.
Increase the salary of the ministers!
They can easily survive much better than all of us even without salary
bila harga minyak, cepat cepat naik harga… bila turun, diam diam sahaja… terima kasih bn!
Pricing for unregulated RON 97 should be lowered accordingly…
Let see if the G will do this or not..
I hope they really do reduce the petrol prices as I remember there was a time where we were overpaying for petrol. Government was netting as much as RM16mil a day.
Fuel price dropping worldwide while Malaysia fuel price hike up…
If not how to pay RM1600mils to Proton? Simple reason.
“We have no plans to review the fuel price, but we will work with the Finance Ministry and Bank Negara Malaysia to monitor the price of crude oil. We will only make a decision if there is a need,” Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek told the New Straits Times.
I thought the G is suppose to review the fuel price monthly. increase so fast…decrease so slow…what kind of messsage is he, as minister of Consumerism, sending to other retailers…
Is anyone surprised by this? If anyone is surprised, don’t be. Welcome to Malaysia. So much debt has been accrued that they will try to get revenue from any source. It’s like the rakyat is subsidizing for the g’s expenses!
when oil price is up: oh we have to increase the price of the fuel in our country, because we government cannot tahan the subsidy. it’s too much. and it has to do it quickly, even overnight.
when oil price is down: oh we have to do a lot more study before we decide if we are going to decrease the price of the fuel, because you know there are a lot of things to be considered, and may affect quite a number of areas in our country. and we can use the extra amount of money in other area also.
in short, it’s much easier to increase the fuel price than to decrease it. and i wonder why…….
Good job!! this is how you care about the citizen. Price will only go up and never go down. Just like your wan tan mee price in market.
increase price, one night settle.
decrease price, going to take forever.
BN pukimak cilaka UMNO kaniama chao cibai!!!
why don’t just float the fuel price?? scrap the subsidy idea and abolish the excise duty and AP..
case solve
Most of the time is an overnight plan and not pre-plan. After nice dreaming and tomorrow petrol is up. Thank you Malaysia.
crappy gov.. ron97 follow market price konon. Tak turun pon harga. For the sake of protecting certain people, we rakyat jadi kambing hitam. Biar rakyat mati asalkan kroni makin kaya..ptuihh
next month RON97 RM2.25, RON95 = RM2.30
Then RON 97 will be out of stock.
…and they will still talking about subsidy!
I think the gov is no longer “subsidizing” the petrol at such oil prices. In fact it could be making extra.
Good luck to all of us.
government is making the right decision here
when fuel prices drop, it affects Petronas as well, and that directly also affects the Malaysian economy, thus there will be a greater need to ensure our country’s cash flow in the good books, so a drastic decrease in fuel prices is not sustainable and government is forced to keep the prices at it is
i trust when the right time comes, the gov will decrease the prices to a more tolerable level
just trust the gov, they know what they are doing
Trust them???? GST=Gangster & Samseng Tax coming up!!
These BN & Cronies are the least trusted life form on earth!!! Next PRU..OUT,PLEASE!!
Your sarcasm is not lost on me… Good one
Jutaan terima kaseh kepada 47% rakyat Malaysia. Inilah kerajaan anda.
We demand transparency in APM price setting and “real” amount of subsidy paid by the government. This body must be accounted for, validated and report presented to rakyat. Otherwise, we as consumer will never know what exactly we are paying for.
My thinking is that APM being used as vehicle to manage the subsidy while we as consumer pay a fixed price despite the crude oil price drop. There is no issue about APM managing supply…nonsense and crap. Check your facts Mr. Minister.
Bila naik action like flash of lightning tapi bila turun kita monitor sama-sama sampai ia naik balik .
Open the market la, all subsidise also not help the Rakyat, but all help your own. Some more say will contribute more in the Free Trade in ASEAN meeting. You your own talk and you your own happy only. Free Trade??? talk out loud, do le haiz…… When can the people mindset change??? when???
I still can read those folks posting in facebook, where got price increase at fuel price. I still pay RM50.00 to pump the petrol and the petrol station service man also never ask for extra RM0.20… Gosh!!! this type of people really make Malaysia proud man. Secondly will be the Malaysia G who make us proud also in the world.
Maybe we are paying tax for RON95 now…who knows!
You sure you want the govt to abolish the fuel subsidy? Even with subsidy the price for Ron95 2.30 u all already complaining..
i believe it may be even cheaper if we don’t have the subsidy from the government. we only need some petroleum companies and leaders that are more responsible than what we have now.
abolish the fuel subsidy and also abolish taxes on car price!!!
Don’t reduced the price even though the crude price keep falling till USD75 in months to come. Give cash back to the people instead just like what Pak Lah done before. Why? Are the prices of essential item going down when fuel price at the pump tumbling? Then when they increasing back, sure the price of essential item will follow suit.
Our government is 30% funded by petronas. Oil price goes down revenue also down. This is going to bust our national budget. So don’t expect lower petrol prices as the government will take the subsidy savings and whatever extra to cover that. Even that may not be enough to cover the shortfall.
They rather make silly remarks and comments, than to tell you the truth. Making truthful remarks lead to questioning of how the national budget is spent and how to cover all the over spending highlighted by the Auditor General Report.
still depend on this gomen ah?
When price of ron97 increase, they say due to follow market price. now market price drop, then now say wan see this see that, WTF? I prefer Malaysia petrol station like US or Aus, sendiri control, since RON97 is not subsidized. RON95 is already selling at price higher than market, since 1 barrel now at USD80 per barrel.
Please remember another thing, oil sell by malaysia is not brent oil, is tapis crude, which is selling at higher than the benchmark oil in the market.
Malaysian, please wake up and see how our goverment fooling us. FUK GOMEN! Hail Malaysian!
so now all those bs sing song talk kok lies exposed by the greedy shameless idiot as a whole ah-noh people.
What the fish!!!…RON97 should be a lot cheaper laaa since it is without subsidy and depends on market price. What the fish la wei…
everyday when i go to work, i got to sit the train and bus. i see a lot of cars on the road and I hate it. World is unfair that those people can afford a car and I can’t.
It will be better if government raise the petrol price and stop subsidising. also, raise the car taxes too. this way, many will not afford to drive and in the end they will sit public transport just like me!
Hahah.. thats one way to look at things. How about another. If the government dont tax cars like they do now… maybe you also can afford a car.
Now how about another one, if the government is more prudent in saving money and wasting on white elephants, and stimulate the economy to grow, you also can afford a car.
this is why i really like about choosing the devil we know, rather than wanting the angel we dont.
RON 97 is kept floated. and they the government been banging about this for quite some million years. but why is it not reduce since the world oil price is going low?
Sucking Rakyat blood……!!!
ai kerajaan… nak makan duit lebih le tew…
Dear Malaysia Gov.
Please stop subsidies fuel.
let the fuel pump operators sells the fuel according to the market price.
because you Malaysia gov make me sick.
Tq
MALAYSIA GOV HOPELESS, THANKS TO THOSE 47% BN SUPPORTER!!!!!
So actually after this oil price drop the Ron 95 subsidy is virtually zero!
Terima kasih kerajaan Barisan Nasional!
Simple question and answer, Goverment not enough money for expenses!!!
Oil price goes up = Price increase after 12am
Oil price goes down = “No immediate plans to review fuel pricing”
*Ptuiiiiiiiiiiiiiiii!!!!!!*
hahahaha…..the ppl that voted the BN monkeys now really get to taste of the cruel jokes on themselves…..
not ‘TELUS’ anymore. should be replace that golden place with talented man.