The government says it is looking into appropriate measures to reduce the impact of rising global petroleum prices, and will introduce these should the price of RON 95 and diesel in the country exceed RM2.50 per liter consecutively for the next three months.
Via a statement, the ministry of finance (MoF) said the measures taken will ensure that the people are not burdened with the rise in world oil prices and the inflation rate in the mid-term and long term, but did not elaborate further, theSundaily reports.
“The government is concerned and understands the impact following the rise of global crude oil prices that are presently more than US$60 (RM250) per barrel,” it said.
“Currently, the government has implemented a rationalisation step towards subsidising petroleum products in line with the trend of rising or decreasing world crude oil prices. This measure has been successful in reducing leakage and ensuring targeted subsidies,” the ministry said.
Last week, the government said it will continue to use a managed float system to determine fuel prices in Malaysia, with reference to the world price of crude oil.
“The current mechanism in place is on a weekly basis where the average change in the cost of petroleum products the previous week will determine the price for the following week. If world crude oil prices rise then retail prices of petroleum products also rise, otherwise the retail price will decrease if world crude prices drop,” the MoF statement added.
The government stated it is still paying millions of ringgit for fuel subsidies every month, saying it is “still subsidising fuel for the public transport sector and fishermen as well as cooking gas (LPG).
For the current week of fuel pricing (November 16-22), RON 95 is priced at RM2.38 per litre (up seven sen from RM2.31 last week), while RON 97 is at RM2.66 per litre (up six sen from RM2.60) and Euro 2M diesel retails for RM2.25 per litre (up five sen from RM2.20).
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Please don’t mess around the market pricing. Let Malaysia follow the global market price in order to evolve instead of protectiveness for the rest of our life. We will not survive continuing to subsidise on fuel price. Someone have to pay for it.
This is the biggest conjob ever. We are an oil producing country. What we produce is more than enough for the rakyat of Malaysia
Look at Brunei, the Sultan of Brunei cares for his rakyat, he makes sure all his rakyat get super cheap petrol, then the remaining, he exports it at world prices.
Malaysia also should do the same. Give the rakyat super cheap petrol. After all, the oil in the ground ie Tanah Air Ku belongs to the people. Malaysians deserve to use their own oil. Then the balance, export it at world prices.
Malaysians have been conned for 30 yrs thinking there is a subsidy. Hello, you cannot subsidise something you your ownself produce.
If you grow vegetables in your own ground, you cannot say that you subsidise the vegetables.
U are right. But here in msia, we sell our vege to foreigner and in return we buy grass at world price for our own ppl.
Obviously increase in fuel prices caused weekly increases in prices of goods, food, bas sekolah fees. Only those deluded and buta ones cannot see this.
Malaysia has the cheapest petrol prices and car prices in the world. We should learn not to complain and be grateful.
Government is trying their best to keep prices low for us because they care for us.
Try using public transport. It will save you money.
No public transport to Hulu Yam.
i really want to used public transport if they have one in baling to kulim every morning. lucky selangor and KL
There will be soon. Its called HSR
LOL to all uninformed Malaysia who keep advocating Malaysian deserve cheaper oil price just because we are an oil producing country.
did you know Malaysia is an NET OIL IMPORTER since 2015? means we CONSUME oil MORE than we produce i.e. demand > supply.
for record, based on data extracted from BP Statistical Review of World Energy 2016, we produced about 693,000 barrels per day, but we consumed about 831,000 barrels per day.
for Brunei, they produced about 127,000 bbl/day and consumed not more than 20,000 bbl/day.
and don’t compare with Arab countries. we’re not even an OPEC country. and look what happen to Venezuela when the price of oil is too low. yeah, hyperinflation.
so, when you said we should fully utilise our own oil, then export the balance, what balance?
and by using the simple law of demand & supply, what will happen to the price of the goods (in this case, oil) when the demand > supply? I leave it you to do your own reading.
so, I do hate it when the price of RON95 increased. but at least, I try to be realistic and don’t hate it blindly.
Obviously they don’t know. Wassap/facebook/hearsay is the only fact and figure for them. BTW u are right, My are no more oil producing country. Our usege are more then we can produce.
Haters love myths, facts escape them, it’s too hard for them, like generation snowflakes who can’t deal with real life and want to extend college life out into real life, with the help of liberal retards like third wave feminists, BLM and SJWs.
The corruptions !! Do you realistic or you just don hate and blind it ??
Petrol want cheap, GST don’t want, income tax also ask to reduce, toll also don’t want, want to cut tax bla..bla..bla.. but want free hospital, free university, free PTPTN and free bla..bla..bla.. even Sg gov are planning to increase their tax.
Yes, those people are too used to the old lifestyle. Hard to change already. Everyone who complains should take a good hard look at their spending habits and see where they can save. Its called practicing austerity.
Bro, SG Gov increase GST but SG rakyat get it back through public development and amenities, long story short they will use the GST fund for the benefit of their citizens. Unlike Malaysia, we pay GST but our facilities like crap, do you personally feel benefited by the Gov living in Malaysia?
I would say the tens of thousands of pipu using MRT & LRT3 and LRT extensions feels much benefited by the Gov living in MY.
So where do the money to cover gov cheap hospital cost to rakyat and free primary /2nd school come from? U calculate yourself, if one household have 2 children that got free school that been subsidies for about RM3k per year per student, but the family only pay income tax for half of that (or did not pay any), where do the money come from? U multiply it for majority of My pipu who actually got free school for their child but most of them did not have to pay for income tax. That just for school u know. Yes i fell benefited by living in My with income tax break but still got free education for my children with low expense in Gov hospital (the most valuable thing that one Gov can give rather than those so call pembangunan). Sg got cheap gov hospital?
FYI free schools and cheap gov hospital exist long before GST was implemented. Therefore, with the addition of GST, what more improvement do you see other than MRT? Bear in mind MRT only benefited KL people, what about the rest of the 13 states?
Malaysia Population 31 mil, GST 6%
Singapore Population 5 mil, GST 7%
SG have MRT/LRT covered almost every corner of the country long before our first Malaysian MRT exist. SG dun hav cheap gov hospitals but they have finance schemes and subsidies to aid the lower inc grp. Since when SG public schools are not free? They only need to pay small amount of misc fees per month.
Only lower aid group deserves healthcare support? My aunt got cancer and spent SGD$100k for treatment. If it werent for my famili & others, even my aunt’s middle class famili will be seeking ahlong if need to spend 100k. R they not citizens there? What about the old & infirm?
Be grateful for what u have here cuz not everything is roses elsewhere.
ali … First , we don ask for cheap or free !!
we been paid so much taxes , income tax , car tax , rd tax and now 6 % gst , even 10 years ago SG started 3 % gst and tat time sony 32 inches lsd tv SGD 500 only compare we RM 3999/. And they are not oil production but we are !!! Something we Malaysian don get it are …. House , nasi lemak, gula , tebung , petrol increases , tapi RM fallen gao gao !!!
whatever you said our petrol or hospital are cheapest in the region , but still so many poor Malaysian are suffer ! but apa nama ” yang berhormat ” menteri~ menteri rich.
Be real lar. The increase is due to removal of subsidies that pipu like u can afford to pay, not becoz RM drop.
The savings in subsidies then get channeled to those TRULY in need, those who dun even have money to pay for internet access to come here and grumble like u.
Malaysia hasn’t been a net exporter for some time now though..
do you see where the saved money goes to???
Simple are you enjoying paying the high price? Why dont govt just give option, one is for leafable kind of species who enjoying pay more, and 2nd is those cant afford to pay.
There’s only 1 simple way to beat oil prices:
Just keep on buying Perodua cars.
Jimat minyak, enjin Toyota, tak payah pening kepala, beli jer.
Correct. As long as harga minyak lebih rendah berbanding Singapura and Malaysia diantara yg termurah di dunia rakyat will be happy.
harga minyak Malaysia semakin hampir negara maju…. Cukuuuur happy.
Cut public spending and civil workforce. Dont burden the Rakyat.
Civil workforce is the largest in the world. 1.6 million civil servants. Highest and biggest in the world!!!
In other country do they include army,nurse,police and etc to their civil workforce?
According to global oil prices, our Ron 95 should be at RM1.50. Saudi Arabia is selling per litre of their Ron at 25 cents (RM1.10)
We are overpaying the Government of Malaysia by nearly 90 sen per litre.
Calculate that with 10 million motorist who fill up hundreds of millions of litres per month.
Government makes BILLIONS extra every month.
On top of that Government made about RM100 billion from GST alone last year. Belum kira income tax, company tax and corporate tax also.
This GST money is extra income that was not there the past 30 years. So, where is all this money going to?
there is a hidden petrol tax in there.. about 50 sen per litre.
hence the reason why Govt doesnt dare to charge GST for petrol..
The fact that vpower and ron100 is still being sold means plenty of consumers are still paying Top Ringgit plus GST without complaints.
Here is global oil prices globalpetrolprices.com/gasoline_prices/
Wait, what? Why more exp than MY when MY gov said it alredi market price? Ini tidak adil to rest of the world.
Government is expecting to collect around RM40Bil from GST this year. Stop the BS.
Government can not keep Sayang Sayang lazy citizens who refuse to work for it. If the lazy bunch want fuel subsidise then they have to go to other country who willing to Sayang Sayang them. You are lucky Malaysia government don’t impose fuel duties like our neighbour countries.
You should go and offer yourself to pay more. Dont talk crap here.
Whatever la gov..haih… penat dah aku
Global oil price down also still mesia oil price up n epensippp… Something unapprppriate going on.
Simple calculation
One barrel = 159 liter
159 liter = RM250.00
1 liter = RM1.57
But today market price is RM2.38????
That’s the price of crude oil. Needs to go through many layers of processing to become petrol/diesel/etc. Those processing cost money. It’s not as simple as just dividing them into liters like you did.
Dude. River water and tap water oso got diff pricing, but do u prefer to drink unprocessed river water?
even worse because petronas sell RM250 per barrel (or about USD55) and buy the crudest oil at around RM200 (my guess) for Malaysians to use. imagine that!!
Why not try putting crude oil into ur car and see if it works?
Go and try putting crude oil in your car.. see what happen! To many people in malaysia think as simple as your simple calculation..
World oil prices has been going down recently! What is all this prices going up BS ??
Just increase BR1M for B40 lah. Those who grumble mostly r those who can pay for it.
Thats your assumption. You can pay doesnt mean others can. You taking example of yourself, friends and families is not accurate. But if you feel that you willing to pay more just continue support barang naik.
I see my role as a rightful citizen to pay my dues as required, and gov’s role is to redistribute that resource to those TRULY in need, knowing that if I ever fall into that category, what I have given will come back in times of my needs.
If u havent fallen into that stage, u dun really understand the meaning of “cant pay”. And whats wrong with supporting a sound, consistent, predictable side, vs chaotic, anarchic, headless chickens?
what the hell lah…they decide what price to sell every week….then…they want to introduce control if price go beyond rm2.50…
its already in your hand laa boss…don’t try to fool people…haish….
Angel also them, devil also them.
Malaikat pun dia, syaitan pun dia.
Well to be fair we are used to subsidized price. Thank you for all the years of subsidies. Just you could have handled the whole situation better than this mess of half way here, half way there…
When price go down, semua station taukey say want close down bising je Pandai..
Now price up so much, semua diam, tukar mercedes.. tak pernah pun kasik discount sikit..
Come on najib..please make it rm5 per litre pleasseee…
In short, big G already set their sights on RM2.50.
Without much time wasting, RON 95 will be inflated up to RM2.50. Then, they will make a claim, G are putting millions into subsidizing fuels for the rakyat.
Well, we Malaysian will be paying for such hefty price soon. Good luck! G cares for rakyat! how irony!
Producing petrol with own crude oil..even rm0.10 per liter still consider expensive…that is malaysia own oil plant
bring the low grade fuel at least old car and motorcycle can use…most old car can run on lower grade fuel.. i know i know its the environmental issue..so what is your option?
and may be subsidizes this low grade fuel only.. rich one wont use low grade