Premium grades of petrol have been continuously climbing in price. For the week of March 17 to 23, 2022, RON 97 is priced at RM4 per litre, up from RM3.75 per litre of last week, while RON 95 remains at its capped price of RM2.05 per litre.
Assuming that RON 95 would naturally be priced around RM3.60 per litre (historically it has been around 30 to 40 sen cheaper than RON 97 when uncapped), this means that the government is subsiding RM1.55 for every litre of RON 95 sold, or a whopping 75% on top of what we are currently paying.
Given the continuously rising global oil prices, the Malaysian government pays dearly for subsidising fuel, and the finance minister said last week that the fuel subsidy will be reviewed.
That said, diesel fuels, as with RON 95 petrol, continue to under the current price cap, and the Euro 5 B10 and B20 blends of diesel remain at RM2.15 per litre. Correspondingly, the Euro 5 B7 blend is pegged at RM2.35 per litre, following its price hike at the beginning of this year.
These prices take effect from midnight tonight until Wednesday, 23 March, when the next set of fuel price updates will be announced. This is the 12th edition of the weekly fuel pricing format for 2022, and the 166th in total since the system’s introduction in 2019.
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LOL crude price UP b.n. UP
crude price DOWN b.n. UP
Ini maseh semua salah Putin. Syukur petrol rakyat Malaysia RON95 masih murah… #BetterNation #KeluargaMalaysia
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No words to Appreciate The government
Great job Ministers
Copy paste: “What are u talking?”
Lies and lies and lies, govt haters still thinking its 2018. Now its modern time and rakyat knows v well not to trust fake news. It’s old n garage method to attract public anger n votes
Alhamdulillah be grateful to be Malaysian compare to other non subsidized countries even though we still admit having some painful in our daily life cost. Alternative is think positive by generating more revenues and practice calculative cost cutting measures during this unavoidable recent war conflict & never ending global & local economic obstacles.
Since per litre of palm oil is more expensive than diesel now , why are we even using bio diesel at all. That is not economical for us and even the government. It is time for palm oil to be fully utilize for food instead of fuel.
Palm oil is considered as renewable hence why we keep at it, it helps to reduce diesel usage per liter and therefore prolong our reserves. Cost to consumer is unimportant as diesel price is fixed so even when palm oil price went up, it doesn’t affect end users at all.
1. Reduce diesel usage per litre:
Thats a big lie. Bio diesel has lower energy density than diesel derived from crude oil. So fuel consumption is higher when using bio diesel. Consumer will pay more for fuel.
2. Prolong our reserves :
Thats not true. Our reserves are mainly sweet crude , low in sulfur which is highly prized. It is most exported , not refined as fuel to be used locally. We import cheaper sour crude to be refined into fuel.
2. Palm oil price went up, it doesn’t affect end users at all :
Thats also untrue. The government need to spend more to subsidize diesel. And putting unnecessary demand on palm oil affects cooking oil prices which is currently very high now.
1. Bold statement. Do you have proof of that accusation?
2. With reduced diesel consumption via adding biofuels, we can reduce the need to spend for more diesel. Spending less on buying oil for our own consumption meant we can reap more benefits when selling our own.
3. What does cooking oil has to do with automotive? You see, you only pay a max of RM2.15 per litre B10/B20. That’s it. No matter palm oil prices go up, you still pay up to RM 2.15. It is fixed! So how does it affect end users?
This will be my first time experiencing RM300 full tank in my 5L car! Damn.
Blame on Putin
Our neighbours are all paying market price for their fuel hence their currency strengthened. We on the otner hand spend tens of billions subsidising fuel which will make our currency weak. Use tbst mo ey to strengthen tbe currency so that inflation can be controlled.
Bullshit, they are suffering and could not wait for us to reopen our borders come 1Apr. I bet you many Sinkie cars with near empty tanks would line up the Causeway heading towards the nearest petrol stations in Johor. Badawi dabbled with free market petrol once and our inflation went up but never came back down ever since. During Najib, our currency was at its strongest yet inflation while low did not come down. Neither when under PH where petrol prices shot up, inflation went up again but not came down after that.
What are u talking?
Ahh, habis
Kepala hotak mak hang, ron 97 sampai rm4
99% of rakyat dun give a fucuk anyways as majority use petrol rakyat RON95 @ low priced RM2.05/L.
If sweet crude fetches higher price and is exported while we import higher sulpher content with lower price, we actually gain on forex. Anybody can verify ?
We gain if there is a nett positive inflow, but as mentioned if we spend more to subsidize then there is nett outflow. So we do not gain at all, the reason why our currency did not strengthen against USD even with higher oil prices.