RON 95 petrol price now capped at RM2.08 per litre

RON 95 petrol price now capped at RM2.08 per litre

Back in January, with the introduction of the weekly fuel price float system, the government had announced that the retail price of RON 95 petrol would remain capped at RM2.20 per litre even if the market price of crude pushed the pump price beyond that level.

Today, finance minister Lim Guan Eng announced that the ceiling for RON 95 has been revised to RM2.08 per litre, which means that this is the maximum consumers will have to pay if market prices push the pump prices above that price level, the government covering the difference through subsidies.

Accordingly, if world oil prices are below that level, then the weekly price of RON 95 will be cheaper than RM2.08 pre litre. There is no change to a similar cap that is in place for diesel, which is set at RM2.18 per litre.

Lim said via a statement that the decision to revise the ceiling price was agreed upon at a cabinet meeting earlier today, despite market prices for petroleum products continuing to show a trend towards increase. The statement reiterated that the price threshold will be cancelled once the targeted fuel subsidy announced in Budget 2019 is implemented sometime in the middle of the year.

The retail price of RON 95, RON 97 and diesel based on an Automatic Price Mechanism (APM) calculation will continue to be announced weekly. For the week February 23 to March 1, RON 95 is priced at RM2.08 per litre, while RON 97 is priced at RM2.38 per litre. Euro 2M diesel continues to be RM2.18 per litre, essentially its price cap, while Euro 5 diesel – which is always 10 sen more than standard diesel – is at RM2.28 per litre.

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Anthony Lim

Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap. Having spent more than a decade and a half with an English tabloid daily never being able to grasp the meaning of brevity or being succinct, he wags his tail furiously at the idea of waffling - in greater detail - about cars and all their intrinsic peculiarities here.

 

Comments

  • Ben Yap on Feb 27, 2019 at 8:32 pm

    Why cap? Let ron95 float so that people have to take public transport. Only the rich will drive and be taxed. This will reduce pollution and traffic congestion.

    Like or Dislike: Thumb up 37 Thumb down 18
    • Sohai on Feb 27, 2019 at 10:23 pm

      Then coming Apr19 will float market price. Approved B20 subsidized rm30/month max (rm0.30*100L max). Mana Hari ini menang, esok Turun harga minyak to rm1.50?

      Well-loved. Like or Dislike: Thumb up 65 Thumb down 9
    • digidigi on Feb 28, 2019 at 9:20 am

      sorry lo, our government want build car, more car, 30m population country with 3 national brand, can u find elesewhere? public transport? U back to last government lo

      Like or Dislike: Thumb up 11 Thumb down 1
    • Mr. Octopus on Feb 28, 2019 at 9:37 am

      What about those who ride bikes?

      Like or Dislike: Thumb up 0 Thumb down 1
    • Veyron Owner on Feb 28, 2019 at 2:26 pm

      I agree with this separation of the classes. The poorer citizens must give up their Ahbeng ricers and dangerous motorcycles to take the public transport. Then us rich citizens and politicians can use the road with much less congestion.

      Like or Dislike: Thumb up 4 Thumb down 4
  • Not Toyota Fan on Feb 27, 2019 at 8:34 pm

    Call me cynical but I smell a win by hook or crook these coming By-elections.

    Like or Dislike: Thumb up 46 Thumb down 6
    • Brian on Feb 27, 2019 at 10:02 pm

      Price manipulation is Tun’s favourite game. Rakyat manipulation is his second favourite.

      Like or Dislike: Thumb up 52 Thumb down 7
  • lilytan on Feb 27, 2019 at 8:38 pm

    More subsidy spent to cheaper petrol prices. Ppl will drive more and create more congestion charges. Better utilized this rakyat funds to improve public transportations and lower bus fares

    Like or Dislike: Thumb up 36 Thumb down 6
  • oh boy on Feb 27, 2019 at 9:18 pm

    how many more times they want to keep changing and changing in this oil price game? when CPI is lowering?
    any policies cant even last for 3 months…now what if oil price sky rocket to $80? then say review policies again?

    Like or Dislike: Thumb up 47 Thumb down 4
  • RM1.50/L petrol mana? on Feb 27, 2019 at 9:38 pm

    RM 2.08 isn’t the RM 1.50 like you promised, Pakatan! Stop robbing us of 58sen per liter! We elected you to help us, not to help yourselves to our money!

    Like or Dislike: Thumb up 80 Thumb down 50
    • Reduce 30% car prices like you promised too, Pakatan!

      Well-loved. Like or Dislike: Thumb up 76 Thumb down 8
    • johnwhat on Feb 28, 2019 at 8:42 am

      they never promised that.

      show me article.

      Like or Dislike: Thumb up 3 Thumb down 13
      • Manifesto Dicapati on Feb 28, 2019 at 3:27 pm

        “Hari ini kita Menang, esok kita turun harga minyak ke RM 1.50”. Google it.

        Like or Dislike: Thumb up 20 Thumb down 3
        • Rahman on Feb 28, 2019 at 3:45 pm

          It’s not part of the manifesto. please don’t post fake news ya

          Like or Dislike: Thumb up 4 Thumb down 14
          • Optimus on Feb 28, 2019 at 4:14 pm

            A promise is a promise and taken up, it becomes a binding agreement. Even in US, a verbal agreement is enforceable by law.

            Like or Dislike: Thumb up 17 Thumb down 2
          • Copy Paste on Feb 28, 2019 at 4:34 pm

            Copy paste: “NNCP is also not in the manifesto but they have already dropped RM20million into this black hole despite everyone’s very vocal misgivings, and they will continue to drop more of our money into this dumb idea. [CP: Which now becomes a flying car ROFL!]

            Still want to argue what is or what is not relevant in the manifesto? Didn’t Tun said that nothing inside the manifesto is set in stone? A promise is a promise and should be kept! Why did we vote in these lying politicians?!”

            Like or Dislike: Thumb up 14 Thumb down 0
  • Well. Enjoy what is provided. B self contented. Any changes then live with it. As if we can dictate? Look at the bigger picture. Our local transport is a pie ‘whole’ , tell me who can sub to public transport to work?! Sell ur car before one even say so… We are not in SG. HK or TW w great infrastructure. More positive moves from our govt pls. Tolls n legal prosecution need to progress !

    Like or Dislike: Thumb up 2 Thumb down 0
  • weirdPrice on Feb 28, 2019 at 8:06 am

    don’t you think that RM2.08 is a weird figure to cap the price? why not RM2.05 or RM2.10? must be by-election “by-product”……..

    Like or Dislike: Thumb up 8 Thumb down 0
  • John Doe on Feb 28, 2019 at 9:16 am

    Ponzi

    Like or Dislike: Thumb up 3 Thumb down 0
  • passion on Feb 28, 2019 at 11:12 am

    Neverending crap!!!

    Like or Dislike: Thumb up 4 Thumb down 0
  • Gabriel on Feb 28, 2019 at 11:22 am

    Luckily we have a by election this weekend. Else sure need to pay higher fuel price.

    Like or Dislike: Thumb up 14 Thumb down 1
  • I only trust the government if it’s only RM1.50.

    Like or Dislike: Thumb up 13 Thumb down 0
    • Later their supporters come here say this is fake government, aik….

      Like or Dislike: Thumb up 3 Thumb down 0
 

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