Finance Minister Lim Guan Eng says this is an initiative to help the B40 lower-income group.
PETALING JAYA: The finance ministry has lowered the retail ceiling price of RON95 fuel from RM2.20 to RM2.08.Finance Minister Lim Guan Eng said such an effort “was never undertaken by the previous government”.
“The reduction in the price of RON95 petroleum products is in line with the Pakatan Harapan’s aspiration to reduce the cost of living of the rakyat,” added Lim in a statement. He said the cap on the ceiling price will be abolished in the middle of the year when a targeted subsidy scheme for petroleum products is implemented.
He said the Cabinet made the decision at its meeting today, taking into consideration the upward movement of crude oil in the world market. The retail price of RON95, RON97 and diesel will continue to be set according to the Automatic Price Mechanism on a weekly basis and announced every Friday.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'We are still at a RM1 trillion debt level'The country's debt is still at the trillion ringgit threshold as per the end of 2018, Finance Minist...
Read more »
Putrajaya lowers RON95 ceiling price by 12 senGuan Eng says it will be capped at RM2.08 per litre even if global oil price increases beyond that.
Read more »
MoF: RON95 price cap lowered, now RM2.08 a litre | Malay MailKUALA LUMPUR, Feb 27 — The RON95 retail price will be capped at RM2.08 a litre from RM2.20 previously, Finance Minister Lim Guan Eng announced today. “Based on current price trend petrol products is on the rise now, the Cabinet meeting on February 27 had agreed to reduce the cap on retail price...
Read more »
RON95 price capped at RM2.08 per litre | The Malaysian InsightThe government will subsidise the difference should market price exceed ceiling price, says Guan Eng.
Read more »
Harga siling RON95 ditetapkan RM2.08 seliterKementerian Kewangan berkata, keputusan itu dibuat Kabinet hari ini sejajar komitmen kerajaan mengurangkan kos sara hidup rakyat.
Read more »
RON95, RON97 petrol up 10 sen per litre, highest prices yet this year | Malay MailKUALA LUMPUR, Feb 22 ― The pump prices of RON95 and RON97 petrol have risen by 10 sen per litre for the week starting tomorrow, the Ministry of Finance announced today. They will be priced RM2.08 and RM2.38 per litre respectively, the highest prices yet this year. Meanwhile, diesel pump price has...
Read more »