Fuel prices in Malaysia have seen quite the change in recent months. In September 2016, RON 95 was priced at RM1.70, with increases of 10 sen and 15 sen imposed in October and November respectively. It was then reduced by 5 sen for December, ending the year at RM1.90.
For the new year, fuel prices have gone up again, as explained in detail by finance ministry strategic communications director Datuk Lokman Noor Adam in an earlier report. This time, though, the increase is a significant one – 20 sen hike for RON 95 and diesel, and 15 sen for RON 97.
For the month of January 2017, RON 95 will be priced at RM2.10 per litre (up 20 sen compared to December 2016), RON 97 at RM2.40 per litre (up 15 sen), diesel at RM2.05 per litre (up 20 sen) and Euro 5 diesel at RM2.15 per litre (up 20 sen).
You can blame the increasing price of crude oil and weak ringgit forex against the US dollar for this latest hike, according to Lokman. Don’t expect fuel subsidies to be reintroduced any time soon either, as that is said to have benefitted the rich more than the poor.
Well anyway, happy new year, dear readers!
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AI-generated Summary ✨
Comments express frustration over the 20 sen fuel price increase, questioning the reasons behind it despite declining crude oil prices and a weakening Ringgit. Several point out that oil is traded in USD, and Malaysia benefits from high oil revenues, implying the government still profits despite lower global prices. Some believe the government offers hidden subsidies and blames currency depreciation on corruption and external factors. There is concern over rising living costs, food prices, and the lack of tangible benefits for ordinary Malaysians. Others suggest using public transport more to reduce costs and criticize the government for not saving oil wealth during high-price years. Overall, sentiments are mixed but lean toward skepticism and dissatisfaction with current fuel pricing policies and government accountability.