With the recent shocking announcement that fuel subsidies for both RON 95 and diesel will end in December 2014, we could see a slight reduction in pump prices come next week, says Ministry of Domestic Trade, Cooperatives and Consumerism (KPDNKK) secretary-general Datuk Seri Alias Ahmad said yesterday.
“I did not say it would fall, but if we follow the trend, it would. We have seen between three and four sen fall in the pump price now,” he was quoted as saying in a report by Malay Mail. That may not sound like much, but after rounds and rounds of price hikes, every little bit would help.
The price of crude oil – which will now directly affect the pump prices of RON 95 and diesel in Malaysia – is currently at its lowest point since August 2010, falling to just over US$70 per barrel as of today. If this trend continues, we are likely to see more price drops in the following months.
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AI-generated Summary ✨
Comments reflect mixed sentiments about the potential price reduction of RON 95 fuel, with some optimism about savings and others skeptical about long-term benefits. Several comments criticize the government for maintaining high petrol prices despite falling global oil prices, accusing them of corruption and mismanagement, especially highlighting the inequality between Malaysians and Singaporeans. A few express concerns that the price cut might be temporary and argue it won't significantly ease the cost of living or fuel-related expenses. Others criticize government transparency and compare Malaysia's resource management unfavorably to other resource-rich nations, emphasizing perceived corruption and government greed. Overall, the comments suggest suspicion about pricing motives, dissatisfaction with government policies, and skepticism regarding the true impact of the upcoming reduction.