Youth and sports minister Khairy Jamaluddin has confirmed that fuel subsidies for RON 95 petrol has returned for the month of July, according to a report by The Rakyat Post.
He said that the government had to allocate RM100 million to subsidise the fuel, claiming that without it, the price per litre of RON 95 petrol would have jumped by as much as 20 sen in July. Instead, the price rose by 10 sen to RM2.15 per litre at the beginning of the month.
Syukri’s tabulation of RON 95 petrol cost and pricing in JuneHowever, in another report, the online news portal wrote that the subsidy would probably have been in place at least since June, due to the drop in value of the Ringgit against the US Dollar, according to blogger Syukri Shah. Currency rates play a vital role here, as the base cost of the refined fuel, derived from the Mean of Platts Singapore (MOPS), is expressed in US Dollars.
His calculations showed that the average cost of the RON 95 petrol calculated through the Automated Pricing Mechanism (APM) last month was RM2.29 per litre, 24 sen higher than the retail price of RM2.05. On the other hand, Syukri denoted that the average cost of diesel over the same period was RM2.04, one sen less than the price at the pumps, so it’s unlikely that it was subsidised.
Syukri’s tabulation of diesel cost and pricing in JuneThen again, the price of fuel in Malaysia is based on a managed float system, derived from the average cost for the last 10/11 days of the previous month, so it stands to reason that the APM pricing that Syukri listed is only really relevant for July.
This more or less ties in with Khairy’s claim that the price of RON 95 petrol would have risen by 20 sen without subsidies, and explains why the price of diesel is unchanged at RM2.05 per litre.
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Thank you govt you really made my day. o0o
Every single oil producing country gives its rakyat cheap oil. Except for the UK which has to follow EU pricing, every single oil producing country gives its rakyat super cheap petrol
We produce our own oil. Gomen should sell to Malaysians cheap oil. We are one of the largest oil and gas producers in the world and yet our oil is so high in comparison to what we earn in Malaysia
Here is a list of several countries producing oil and their prices
Petrol
(USD/per litre)
1. Venezuela 0.114
2. Egypt 0.128
3. Saudi Arabia 0.142
4. Qatar 0.171
5. Bahrain 0.214
6. Libya 0.214
7. Turkmenistan 0.242
8. Kuwait 0.242
9. Algeria 0.242
10. Iran 0.299
Don’t compare with Sweden and UK. they earn a lot, so high oil prices is small peanuts for them.
Actually we are not one of the largest oil producers in the world if we were will be part of the oil cartel OPEC. We are not even in the top 20… Petronas is one of the largest oil firms in the world but not because of its drilling in Malaysia but because of its businesses around the world. For example in Europe under a different brand its is essentially one of the most popular lubricants used in cars.
yeah, but Youth and sports minister and fuel subsidy??? I am not able to link them up….
At least he came with some facts rather than some ask people not to ‘balik kampung’ and try ‘nasi goreng bebas gst’ to save cost.
Hello, please get your fact right before tembak. It is not healthy to have high subsidies as the subsidies will tend to benefit the rich more than the poor. The problem is how the savings from the subsidies being utilised.
yes, i agreed with u… subsidy is not good for econ for a longer period…
however, the savings from subsidy should be wisely utilised back for the use of the many….
it’s not only between poor and rich but the location of the country which is in between 2 other countries with easy cross border access makes it more painful to see that subsidy flows out of the country freely.
is time someone act like ‘Hero’ – puih!
Wahai Orang Orang kampong. Sedarlah. Masa GST sekarang, hidup susah pun, kerajaan anda menyeksa anda lagi. Jangan gembira sangat the berita ini
Malaysia keluarkan minyak sendiri pun tetapi harga semakin naik. Sedarlah. Musuh anda bukan kaum lain tetapi kerajaan anda sendiri yang menyeksa bangsa sendiri.
Dalam 2 bulan sahaja, kerajaan sudah dapat RM6 billion dari GST sahaja. Dianggarkan akan dapat lebih RM50 billion dari GST sahaja. Tidak termasuk income tax lagi dan duit Petronas
Tetapi lagi nak menyeksa bangsa sendiri.
I’m not saying you are wrong, but I think you over estimated the internet penetration of our kampung areas… They almost never get any news, feeds or media’s via the internet and still rely on newspapers, national tv, national radio and word of mouths, that is why they have absolutely no interest in national wide problems but their kampung issues and their daily lives. It’s not ignorance, it’s the lack of feasible channel to educate them.
Walaupun orang-orang Kampung kebanyakan terdiri daripada orang tua, masih terdapat banyak orang muda yang belajar di bandar. Dan mereka akan berkongsi maklumat kepada orang- orang tua mereka. Tambahan pula, dunia ini sekarang patut diambilalih oleh orang- orang muda untuk berusaha atau bertanggungjawab. Walaupun orang- orang muda kurang berpengalaman, tetapi masih dapat membezakan kebaikan dengan keburukan.
Youth and Sports Minister using His “power” OR title to comfirm this statement to Rakyat… instead of Domestic Trade Minister?
Rakyat just need to listen and listen don’t even comments or questions… if not will use MCMC “law” to shut Rakyat up!!!
BN truly survivors of cronies.
‘power’ is obvious not beyond to them as arbitrary switch to any minister position likely. Cronies gain 100 from your pocket in return you 10. That is stupid!
First!
you made yourself so stupid , i think u have a potential to b a minister
congrats ! you stand a chance to sleep win Sam Loo!
RM100 million subsidy is peanuts to the government since one man can songlap RM2.6 billion.
the man songlap 2.6 billion is just one news we know. What about the other times he songlap that we don’t know about? I think it runs to hundreds of billions.
Taib songlap US$20 billion (RM80 billion) also nothing happen to him. Infact he was rewarded for his songlap and made Governor
I pass kzm house just now, he said kita mesti bercukur. Kerajaan prihatin dan bagi rakyat subsidi balik.
In his words, “2.6 billion Songlap adalah muslihat pembangkang. Jangan Percaya. WSJ tipu. Kerajaan BN Prihatin”
Once again. A total BS from that BS minority.
But all in the kampungs now shouting, “Mari lah Bercukur”
They are so happy. All so excited. Then they eat nasi lemak and sleep.
BullShit, ringgit is dropping but so are the brent crude oil. Subsidies Roxxah is it.
WHAT THE….f&%$!…I mean seriously…WHAT…..is this how they divert attention…..no formula, no proof of anything and then suddenly…..then later they will claim water, the air, the cloud all suddenly been subsidized….managed float my @$$!.
Its more like the coffers are seriously empty!…..jibby borrow lah skit!
For years the Government have been lying to people about subsidy eventhough now there is no subsidy.
There is no such thing as subsidy in the first place. What you produce, you cannot subsidise. We produce our own oil, so what is there to subsidise?
If you grow vegetables in your back garden, you cannot go around telling people that you are “subsidising” the vegetables. Does not make sense. Unless you buy the vegetables from another person or country, then only you can tell people you are subsidising.
Government has been lying to people the past 20 years about this. You see, the Sultan of Brunei also produces oil from his country. But he cares for the rakyat first. So, he gives the rakyat very cheap petrol first. Then only, the remainder and balance, he exports it to the world at global prices.
Infact, ALL oil producing countries in the world sell their oil cheaply to their own rakyat. Except one country. Malaysia!
Why our Malaysian government does not do this? Don’t care for the rakyat is it? And Malaysia’s oil reserves are 100X more than Brunei’s oil reserve. About 3 years ago, it was announced that Petronas struck the largest oil field in the world with enough reserves for the next 100 years. It was the biggest news of the century. But next day, it was covered up. Complete silence on it and a denial that it even happened. This is because UMNO realiased, better keep the cash cow Petronas discovery solely for the exclusive benefit of the UMNO members pockets.
So, now, the UMNO Ministers and UMNO members are milking Petronas big time. The UMNO members make 5% of the Malay population. Whilst the UMNO members are shopping in Harrods, dining in Selfridges and having tea in Fortnum and Mason’s in London, the remaining 95% of the rakyat Malaysia who are Malays are told to tighten their belt and tanam jagung and kangkung to eat and survive.
The oil that Malaysia produces belong to every single Malaysian. It is our right. It belongs to use. Eventhough it belongs to use, we must somehow beg and plead to the government for the right to enjoy it and a cheap and lower price, something which all Bruneians enjoy as their birth right.
Even if the government is trying to steal our birthright and don’t want to give us cheap fuel, at least be honest enough to lower the prices of fuel when global prices have dropped to its lowest. There also, the UMNO members are trying to cheat us. Now, they say must impose a tax. It should be the luck of consumers if global prices have come down but now the government is taking that also from us.
Malaysia produces the sweetest grade fuel in the world. What this means is that, it is the purest and highest grade fuel in the world and most sought after and most expensive. So, is it true that, 30 years ago, the Malaysian government negligently contracted with the Western Governments to sell this sweetest crude at a fixed price the next 30 years ago, a fixed price which is far far lower at US$XX a barrel? Our previous Government fixed the price of our oil based on 1980s prices. Who loses? We Malaysians lose!
Is this true?
Is the rumours true also that because of this contract, we are actually a net importer of very low grade fuel from Arab countries?
If it is true, why is the Malaysian government giving Malaysians very low grade fuel, super high in sulphur and emissions which will not only detroy our environment but also our lungs? Isn’t a government supposed to look after the country’s environment and health of its people?
Is the country becoming bankrupt? This what happens when corruption goes out of hand and is not small scale and the quantum is huge. For example, Taib alone is worth US$20 billion (RM80 billion). So you imagine. If one person alone can sapu about RM80 billion, what about the others in the corrupted gang? No wonder the country in bankrupt. Corruption is not small amount of a few million. The corrupted are so greedy, they all compete with each other to see who is the top most corrupted and all want that billion dollar mark and millions are just not enough of a mark.
I work in Shell and I am aware of pricing mechanism.
If Global Brent is USD60.00/barrel = RM216 (x3.6)
RM216/159 = RM1.35/ltr (per barrel has 159 litres).
Before refining charge and petrol dealer profit is RM1.35/ltr
Our Government keeps on lying to us. Now it looks like the poor will be subsidising the Government for their lavish lifestyles.
There is no way petrol can even be more than RM1.35 as Brent Crude has fallen to its lowest. So, we Malaysians are paying more than 80 sen extra per litre if pump prices are RM2.15. Why?
If they are truly doing a proper float system, the actual price is RM1.35 per litre if per barrel is US$60.
Then there is 2 other elements. 1) Refining cost and 2) Petrol Dealer Profit
The maximum for refining cost is 10 sen per litre. That is the Maximum ceiling for refining based on global refining charges.
Petrol dealer profit also is usually 10 sen per litre.
This is typical Malaysia. Government throw saki baki scraps from the dinner table, the rakyat, like dogs are forced to pick the leftovers and eat. The non reductions is a big joke and a big rip off to the rakyat because recent months Government increased so much…pandai pandai. Also Malaysians just got used to the high prices, as usual.
Critics will argue about sales tax but every single oil producing country sells their oil without sales tax to the rakyat, except for the UK.
Malaysia is the ONLY oil producing country in the world charging sales tax on petrol to its rakyat.
Even at the price of RM2.15, we will be overpaying the Government over 80 sen per litre.
Government made RM Billions in just one month because the prices were so much higher than global prices. Where got real float?
How can they charge so high when they just gave the rakyat the GST gift?
Every single oil producing country gives their rakyat cheap oil. Only one oil producing country, Malaysia, gives the rakyat above global market price for oil.
We produce our own oil. All oil producing countries give their own rakyat very cheap oil that is also sales tax free (except UK). Only one country produces its own oil but screws its rakyat with high petrol prices.
Screwing us with high oil price is one thing but why double whammy ie screw us with high car prices?
The question we must be asking is, where is Najib’s promise?
Where is Najib’s promise? Najib promised 30 million people 2 years ago before the election that he would reduce car prices by 30 percent.
He said the 30 million people need not worry because BN always kept their word and never mungkir janji. He said if people voted for BN, he was 100% sure to reduce car prices by 30 percent.
Najib, in his speech told people that BN knew how much people suffered paying for their cars and he felt very sorry for the people, thus, he was sure to reduce car prices by 30%.
It is a well know fact, that we Malaysians are paying 3x the global prices of cars. And double whammy, not only we pay 3x the global prices of cars, our cars are stripped down so bad, it hardly lacks any safety features. Even our top D segment cars each have about 20 less safety features than the same car costing 3 times less overseas. For example, a 10 airbag Toyota Camry CBU in the US cost US$22,000. In Malaysia, this cost RM180k. And loads of safety spec taken out. For example Tyre Pressure Monitoring System and many others. Camry Hybrid in the US is US26,000. Come to Malaysia, should be tax free. CKD it using Malaysian parts should be even cheaper. But here sell RM175k
Now, what happened Najib? Where is your promise?
Najib also said that by 2020, we would become high income nation. He said our GDP per Capita would be US$48,000. That would mean, per month, the average Malaysian would be earning US$4000 (RM15,000) per month.
Raja Nazrin, Sultan of Perak said this was pure lies. He said it is an utter lie because 78% all EPF contributors are earning RM1200 and below.
Do you see the average Malaysian earning RM15k per month by 2020?
Khairy should tell us how many billions he made from ECM Libra and all the other contracts Badawi gave him. Small boy but got RM billions in his bank. Then come here and tell us about fuel subsidy
www.oil-price.net shows current price of Brent Crude Oil $ 57.05
http://www.oil-price.net/ shows current price Brent Crude Oil $ 57,05
So… the fuel price should be:
RM1.55/litre = 1.35(Barrel Cost)+0.10(Rifining Cost)+0.10(Dealer Profit)
Is it correct Mr Kerajaan Tipu Puas Puas aka Mr Work at Shell?
So… the fuel price should be:
RM1.55/litre = 1.35(Barrel Cost)+0.10(Refining Cost)+0.10(Dealer Profit)
Is it correct Mr Kerajaan Tipu Puas Puas aka Mr Work at Shell?
Bodohnya hang ni
Any effort to ease the burden of the people should be properly applauded. TQVM
So we must thank the Government? What a great hadiah to give the rakyat. Whilst we suffer, people buy Birkin handbags costing minimum Rm100k each and ranges up to RM800k. And people got over 30 Birkin handbags.
Then people buy RM500 million plane whilst he has already 6 private planes in the hangar. And spends RM28 million to make the cabin posh with nappa leather.
Petrol prices is Malaysian’s biggest burden. After all, when petrol naik, barang all naik. But when petrol turun, not a single item goes down in price. So, petrol go down, what is the real SAVINGS?
The real savings should be car prices. We have already prepaid high fuel prices for the next 20 yrs with high car prices. We are overpaying the Government and all the crony GLC owned car companies too much. You see, ALL car companies are really owned by the Government. From BMW to Honda and Toyota to Proton and Perodua.
These are US car prices with US duty and import tax paid, which are just like Malaysian car prices with duty and tax also paid, but here, you will see, they are much lower and less exorbitant than in Malaysia.
Bear in mind all cars are CBU (complete built up) Japan, CBU South Korea or CBU Germany.
The following cars we get here are CKD (complete knocked down) cars with more than 50% Malaysian content and “supposedly” are cheaper due to their being CKD and supporting Malaysian manufacturers.
I cannot understand, we support our own Malaysian manufacturers and beli barang buatan (buy local) Malaysia too, and yet the prices can be higher than barang buatan (made in) Japan or German, which is usually higher in quality.
And yet, to make matters worse, US people’s GDP per capita is higher than Malaysia’s and the average American earns five times more than the average Malaysian.
Below are car prices based on exchange rate of USD 3.0 as it was 2 years ago when I wrote my article. These Malaysian car prices were also 2 years ago, so, it is fair to use the exchange rate of 3.0. But even if you calculate 3.8, our car prices are still exorbitant.
Malaysians car prices VS Malaysian Prices
Mainstream Car Prices
Honda Accord 2.4 US$21,480 (RM64k)vs RM180k
Honda CRV 2.5 US$22,495(RM67k) vs RM170k
Honda Civic 2.0 US$15,955 (RM47k)vs RM115k
Toyota Altis 2.0 US$16,130(RM48k) vs RM139k
Toyota Camry 2.5 US$22,055(RM66k)vs RM180k
Kia Sorento US$23,150 (RM69k)vs RM160k
Hyundai Tucson US$19,245(RM57k) vs RM140k
Hyundai Sonata US$20,895 (RM62k) vs RM150k
Hyundai Elantra 1.8 US$16k (RM50k) vs RM118k
Luxury car prices
BMW 328i US$36,500 (RM109k) vs RM300k
BMW 528i US$46,900 (RM149k) vs RM420k
BMW 535i US$52,500 (RM157k) vs RM600k
BMW X5 US$47,500 (RM142k) vs RM580k
Mercedes E350 US$51,000 (RM153k) vs RM400,000 (In M’sia for only CKD E250)
Jaguar XJ US$73,700 (RM221,000) vs RM900k
Porsche Cayenne US$48,850 (RM146k) vs RM580k
Every Malaysian must realise they are being cheated on car prices and have been cheated for the past 30 years.
Most Malaysians pay close to 50% of their salary for their monthly payments for their cars.
Not only do the banks get an easy ride (cause everybody is “forced” to take loans), we have to live in debt for over seven years, depriving our family of better food and clothes.
Let hope After GE14 , our next generation is free from this kind debate.
Tak payah compare guna usd… Tengok kat thailand pun dah cukup… Mostly half of our price…
I’m wondering why is the Youth and Sports Minister making this statement? Where is the Domestic, Trade and Consumerism Minister or Finance Minister? Oh wait….one of them is busy putting out the fire on his butt
You sir, made my day. Here have a free thumbs up.
Why the “F” are we paying USD 80+ per Barrel at the first place!
SOS – http://www.oil-price.net/
We produce enough oil for local consumption. Petronas is known to be very very rich in oil wells. Its no secret Petronas struck the largest oil field in the history of the world 3 years ago. But the news covered up so that this oil reserves can finance a few individuals
Another U-turn policy by the govt possibly due to their declining popularity with the public….and its coming from the mouth of the Youth & Sports minister. Still thinking what has sports got to do with this.
still the above calculation true??
oh, thank you Jibby
#IDontMeanIt
Waaah….thank you so much, I feel like crying now. So touched by our ever caring Government. Love you deep deep!
Next month will be even worse as exchange rate will reach a certain minister’s CGPA…
really, hardly feel the impact..
So, fuel subsidies is back. Is that mean we won’t get 30% price reduction on imported cars as promise by our current government?
What is the son in law of Bodowi doing?
That is not his ministry.He better concentrate on giving clean drug free cordyceps to our Lee Chong Wei and take good care of Morten Frost.
Where is the bolaless deputy minister who is afraid to announce petrol price increases?Hiding inside Batu Caves? Takut PDAM dealers marah,kah?
Thailand petrol price no subsidy is RM3.30 per Liter.
Don’t compare our oil prices to Thailand.
Thai car prices are half of Malaysia’s stupid!
giving a really bad name to Oxford graduates..
Lame excuse, f*** off
Khairy act like acting Prime minister.
He is preparing to become Malaysia 7th PM!
kanasai, the gov in ability to lead the country causing the Ringgit to drop, even the international Petrol price gone down we still have to paid for more expensive petrol due to our shitty Najib.
Feel really unbalance now……
I said.
Just want to see how many understand what I tried to communicate.
yea,we should appreciate and thanks to the federal government!
If you decided to abolish to subsidies on petrol and diesel,then be it. Please abolish all the burdening taxes on vehicles as well. Let proton and perodua bankrupt asap please, 30 years of establishment still bring no major improvement.
If fuel subsidy is considered a form of opportunity cost to us since we sell high grade crude then why not encourage (like lower tax) vehicles that uses less fuel or incur less opportunity cost e.g electric, hybrids, etc.
We pay zero subsidy petrol price but zero-duty tax-free car price.
Ron95 price RM4/Liter, RM74K Toyota Prius
Okay? Setuju?
Hi Minister, FxxK You
So the fact that we are an oil producing country is of no concern now? Everything is calculated based on importing the foreign oil cost? The oil we dig from our own soil is of no concern to us at all now? Stupid government trying to treat its citizens like fools.
Bn and Pakatan rakyat all the same!! All bullshitt..Promise3….
As usual, government asked businesses not to raise price but they kept revising petrol price up. It’s no wonder they are all CGPA 3.85 aka I’m not stupid. Just crazy only.
I think it’s about time government introduce the subsidy card scheme. But only Malaysians with Mykad entitled to Malaysian price.
Singaporean and Thai should pay what they are paying now in their country. Hundreds of thousands of car enter Malaysia each day. This can become the income that could subsidize our petrol price.
KJ .. learn from Hishamuddin … now is the time be quite ..
Have to also add that the oil price has fallen for the month of July so wtf are we seeing now with these jokers in the government saying oil price went up?
Check out the price here @ http://www.cnbc.com/id/102816491
KJ, what are you doing man?
Now fuel price also u are the spokesperson for bijan?
Clearly umno has no one else to put at frontline cos all other ministers already hated by rakyat.
And apa umno ingat letak kj spokesperson boleh kurangkan kebencian rakyat kah?
This umno bn govt. are stupid they expect the people also all stupid , only their macai umno stupid like their leader.
Renault clio Edc
What is Youth and sports ministry related to fuel price???
Oh..i know..motorsport is it????
It sometimes very hard to understand the logic from them..!!
all they do is kill us deader, quicker.
all they do is kill the citizen drier, quicker.
all they do is kill the citizens drier, quicker.
Bullshit….again
Depends on the APM mechanism. The G is using the same source i.e. MOPS as their reference price. I would like to think that our refined petroleum products is traded in Singapore trading house since my diesel contract is also pegged to MOPS plus premium and throughput, estimated to be RM2.05/l based on USD0.6/l of MOPS, so my calculation is the same as Syukri (the contract was done back when USD/MYR = RM 3.2. lol)
APM is account of PM?
how come price no drop when usd was RM3.2
they put fuel subsidies as a “leash” to control your revolt. but someday it will not enough.
I think gov shouldnt give subsidy anymore. Instead put that money by giving public transport for free.