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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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.
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?
Bang, nanti he will ask his lawyer to answer you.
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
What about those who ride bikes?
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.
Call me cynical but I smell a win by hook or crook these coming By-elections.
Price manipulation is Tun’s favourite game. Rakyat manipulation is his second favourite.
Cukuur la ckit oii. Malaysia masih aman…
Semua dah naik harga, poket dah kosong tengah bulan. Macam mana mau cukurrr…..
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
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?
betui hang.. PDAM dealer first to komplen.
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!
Reduce 30% car prices like you promised too, Pakatan!
they never promised that.
show me article.
“Hari ini kita Menang, esok kita turun harga minyak ke RM 1.50”. Google it.
It’s not part of the manifesto. please don’t post fake news ya
A promise is a promise and taken up, it becomes a binding agreement. Even in US, a verbal agreement is enforceable by law.
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?!”
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 !
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”……..
Ponzi
Neverending crap!!!
Luckily we have a by election this weekend. Else sure need to pay higher fuel price.
Next weekend shoot up by another 10sen
Lets make it a weekly event kann?
I only trust the government if it’s only RM1.50.
Later their supporters come here say this is fake government, aik….