The new prices for liquefied petroleum gas (LPG) are set to be announced today at the National Economic Council meeting to be chaired by Prime Minister Datuk Seri Najib Tun Razak, Bernama reports.

Domestic Trade, Cooperatives and Consumerism (KPDNKK) minister Datuk Seri Hasan Malek said he will table his ministry’s proposed prices at the meeting.

“We have already met interested parties in the LPG industry, we have met two or three times but no decision has been made on the new LPG prices due to technical problems and because we are putting the people’s best interests first,” the national news agency quoted him as saying.

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“We acknowledge that for the last 16 years the LPG prices have never been reviewed, so we had fresh discussions recently to enable the LPG industry to continue to grow,” he said, adding that the new LPG prices will take the government’s subsidy amount, proposals from the public, and the people’s best interests into consideration.

This afternoon’s meeting will decide if the new LPG prices will be higher or lower than at present. A 14 kg cylinder currently sells for RM26.60 (RM1.90 per litre/kg).

LPG, like RON 95 petrol and diesel, will not be subject to the Goods and Services Tax (GST) next month, as announced in Budget 2015.