The government has revoked the petrol price control order that has restricted the maximum price of RON 95 petrol to RM2.08 per litre and diesel to RM2.18 per litre, the Malay Mail reports.
The revocation was announced in a federal gazette titled Price Control and Anti-Profiteering (Determination of Maximum Retail Price for Petrol and Diesel) (No. 8) (Revocation) Order 2020 that was dated June 3. The order itself was approved by domestic trade and consumer affairs (KPDNHEP) minister Datuk Alexander Nanta Linggi on April 10.
UPDATE: The government says that the order on ceiling retail prices of petrol and diesel is still in place and has not been revoked. In a follow-up report today (June 11), Linggi said that the ceiling price – which restricts the maximum price of RON 95 petrol to RM2.08 per litre and diesel to RM2.18 per litre – is still in effect.
The RM2.08 per litre price cap on RON 95 petrol had been introduced by the previous Pakatan Harapan government in February 2019. This would be the maximum consumers would have to pay if market prices pushed pump prices above that price level, with the government covering the difference through subsidies.
Currently, the retail price of RON 95 and diesel – which is based on an Automatic Price Mechanism (APM) calculation, and adjusted on a weekly basis – is well under the ceiling price.
For the June 6 to 12 week, RON 95 is priced at RM1.48 per litre, which has been climbing from its previous low of RM1.25 in April to mid-May, while Euro 2M diesel is priced at RM1.63 per litre. The price of RON 97 petrol, which is floated according to market prices, is currently priced at RM1.78 per litre.
The removal of the price ceiling has ramifications. It means that the price of RON 95 and diesel could go past RM2.08 and RM2.18 per litre respectively should global oil prices increase substantially in the future.
Not good! If it is not below RM1.50 for RON95 as the cap has been removed. It will be major worry for us
No worries. Even up to Rm 2.07 is still far lower than what PH ever gave us so removing cap is inconsequential.
Don’t mind RON95 to be priced at RM2.70/L; we just need to go out lesser
Habisla Malaysia ….kesian marhen hidop susah.
That is like whining car base price is too high at Rm100k when cars are sold at Rm50k. Stop whining!
Our petrol is so low the lowest in this region and still we got Oppos supporters demanding for even lower. I will bet if give them lower, they will next demand FREE. Bagi peha nak angkat semua ayam. These idiots used to complain about bantuan and tongkat given but now got the cheek to demand for bantuan and tongkat. Shameless bunch of ingrates that don’t deserve any help.
Copy paste: “Petrol super duper low.
Car prices tax holiday.
Loans got 6 month interest free moratorium.
Even public transport much cheaper now.
Ada BPN cash.
Ada BSH cash.
Ada subsidi gaji pekerja.
Ada tongkat for SMEs.
So what complain?”
Good luck guys.
Bila naik dipersalahkan kerajaan. Bila turun kenapa tak puji kerajaan? Ada yg dah turun. Kangkung dulu naik sekarang ni dah turun. Ada yg dah turun.
you comment like BN najib era, welcome back to 2010. x suka boleh balik tongsan
The world says “thank you China for giving us COVID-19, now please go home with your virus.”
Ko ni bodo, harga turun sebab global demand turun, sila guna otak before commenting bodo
YES!!!! Lets put 60% duty on it as well so the government can get some revenue and stop/prevent people wasting fossil fuel on sleeping in their car while engine is on. Stop/prevent our neighbour for cheap fuel run. And EV demand will raise to replace all the ICE vehicles for cleaner air like MCO period. Win Win for everyone.
I hope next, our caring and people gomen will consider removing sales tax from petrol prices to help us further.
lol… sleeping in car with AC on..
better sleep forever la
Petrol prices so low now thanks to Prihatin Nation, I even forgot we got such high base level during PH era. Makes me feel noxious they had cheated us with superhigh petrol prices for 22 months.
Sweet dream, and sweet dream, wake up late rather than just sleep forever. give you RM0.10 and take back RM100, this is call good business because get your strong support.
regardless. Perikatan still smacks Pakatan left and right with such low prices now.
Hello, have you check on global fuel price over the past 3 months ? The fuel price dropped even to single digit due to Covid 19 pandemic
7/3 RM1.89, Brent USD35
14/3 RM1.82, Brent USD28
21/3 RM1.44, Brent USD27
28/3 RM1.38, Brent USD23
4/4 RM1.30, Brent USD32
11/4 RM1.25, Brent USD33
18/4 RM1.25, Brent USD23
25/4 RM1.25, Brent USD22
2/5 RM1.25, Brent USD27
9/5 RM1.25, Brent USD30
16/5 RM1.31, Brent USD35
23/5 RM1.38, Brent USD35
30/5 RM1.43, Brent USD38
6/6 RM1.48, Brent USD41
So your friend was telling us weekly lies that Brent crude had been dropping all the time.
What’s missing here is MYR vs USD exchange rate tho.
Use ratio.
Higher fuel price is good because it will deter people from wasting, letting engines run while sitting and waiting. Make people think twice before wasting resources. Can’t afford higher fuel price? Ride moto, take grab, take public transport. There are always alternatives.
Might as well go back to stone age or just walk right? Least wastage and best for environment.
Itu macam, selah ron95 masih kurang dari rm1. 80, jom pergi cuti cuti Malaysia ala “new normal”..
If that’s the case car price will drop too.. Less ice more ev and hybrid
Baik juga
Yes baik baik naikkan semua Hrga petrol dgn diesel, gembira ako tngok muka sedih rakyat MY. Kasi smua rakyat jdi miskin best!
Served your right people!! You all want this right… tell to your ‘Äbah..’
101 days..
Padan mukak.. backdoor cfrm belakang mari..
And counting to 60 years…
Abah kasi pelempang Batman. “Cis! Dah turun bawah harga Pakatan dulu kasi, masih mau mintak begi kurang!”
Ini time satu dunia harga minyak turun.
What’s this? Pushing factor for more to work from home?
The problem is we can’t buy tesla if got tesla who cares about fuel prices
good job, kasi naik price tinggi. government need to recoup from the stimulus package given to the poor during covid-19. those who rejoice to receive the money, now it’s time to pay back. nasib baik my salary can cover all expenses and no problem paying high petrol cost with extra for happy hour. rumah pun sudah beli and some rent to people. now enjoying my civic turbo which is EEV status. life is good when you reached the stage where these small increments won’t affect you at all.
bravo ben, is different for abang abang when salary go up, mau angkat bini muda. life’s good
The question is where does the savings from the removed subsidies will go?
Since when there was ever doubt when in fact, subsidies has never been removed for RON95 & diesel 2M?
Guawa and frog appetite
Savings would have gone to financing transport infrastructure etc.
The cap is there to protect the Rakyat from being burdened by the petrol price hike and its ripple effects such as the raise of the prices of goods and services. Over the years, we have seen that traders will blame the rise in petrol prices to justify their increase in prices, be it a packet of nasi lemak to transport services etc. Removing this is just to undo or erase what the PH government has done for the people.
For now, it has no impact because petrol prices are still lower than normal. But as things get back to normal and petrol prices are on the rise again, there’s no guarantee that we’ll be protected when this cap is removed. Good Luck and Pray hard that petrol prices will not reach RM2.08 in the future!
What Pakatan has done for the people was sucking on their blood for 22 months and all these while promising us RM 1.50 petrol. If and when prices goes back to normal levels, for sure we will have a more reasonable cap compared to the ever present lie from Pakatan.
In the first place, the cap was meaningless due to promise as above. Ada ke takde ke makes no difference.
Let’s hope that and Pray that will not reach more than RM2.08
Even with the cap, the price still went up. So, what’s the point of having the cap in the first place. Did the price for goods and services went down when the fuel price went down? Not at all. In the future, what the gomen needs to do is to simply float and don;t control the fuel price anymore. Let the oil companies compete between themselves.
They already know it will go over the cap soon..thats why the goverment comes out this policy. If the world oil price gets over the cap the burden will be on the goverment since recently they are on spending spree.just in case to save from subsidy.
PH did a lot of good move policy and anti corruption for netizen, however many don’t appreciate. need to wait GE15 to bring them back.
Yessss…. they did a lot of good for us. he he he… Can’t wait for them to return for us to keep eating the rakyat. We paid them a lot of ‘donation’ and we expect our projek requests to be met or else they must pay back all we had gave them.
I see the removal of the cap so early on is to substitute this with subsidy and with SST with Service Tax because of the low oil prices and to finance the various economic stimulus/recover packages hence prepare for hard-landing.
I see the removal of the cap so early on is to substitute this with subsidy and Service Tax with SST because of the low oil prices and to finance the various economic stimulus/recover packages hence prepare for hard-landing.
Syukur x 20000. Petrol still cheapest in SEA.
Lol
Yeah, price drop set minimum.. then price recovering, remove ceiling..
Everything prioritize station owners only
With this development, now we know who to vote for. At least, the rakyat know what kind of govt the country has today.
Yes. Current one never promise cheap fuel but they still give it. Meanwhile previous one promised cheap fuel but never fulfill their promise. We know exactly who to vote for. No more lying government.
Wah PDAM must be rejoicing today! And pretty much any goods trader – now cannot be accused of suka-suka naik harga…harga minyak pasti naik kan?
Overpriced fuel sold with extra profits goes to refinery bosses, and the rest to PDAM kingsmen. Well global crude oil is dirt cheap now.
It does not matter whether you set the ceiling price or not because petrol is under government control price. It is like your own wallet, you decide how much you want to spend. The rakyat will decide who will govern next election.