A fall in global crude oil prices have prompted the federal government to drop RON97 prices from RM2.90 to RM2.80 per litre, effective tomorrow.
However, prices of the RON95 grade petrol will remain at RM1.90 per litre, which the government claims cost them RM2 billion in annual subsidies to maintain.
Sources close to cabinet said since the price of RON97 is determined by a managed float, prices will fluctuate. The price of RON97 was increased four times last year.
Last May, crude oil prices breached USD100 (RM310) per barrel. Currently, it is hovering below the USD100 mark.
However, prices of the RON95 grade petrol will remain at RM1.90 per litre, which the government claims cost them RM2 billion in annual subsidies to maintain.
Sources close to cabinet said since the price of RON97 is determined by a managed float, prices will fluctuate. The price of RON97 was increased four times last year.
Last May, crude oil prices breached USD100 (RM310) per barrel. Currently, it is hovering below the USD100 mark.
RON97 grade petrol used to be the most common form of petrol until 2009, which saw the introduction of the cheaper RON95.
The Najib administration is trying to reduce its subsidy bill to reign in on its burgeoning budget deficit, but allowing fuel prices to rise will become a obstacle for its ambitious growth targets.
Good news to Ron 95 users, the price have dropped RM0.10
ReplyDeleteRON97 reduced 10 sen..
DeleteMaybe the price will continue to drop so that the people can enjoy cheaper fuel prices.
ReplyDeleteBaguslah..biar terus turun lagi terutama lepas PRU nanti. bukan dekat2 PRU saja.
ReplyDeletePenurunan ini mungkin disambut baik oleh rakyat. Harap kerajaan bijak menguruskan perkara sebegini.
ReplyDeletediharap RON95 pun boleh turun, pasti rakyat m'sia lebih gembira.
ReplyDeletekalau ada pihak yang masih tidak berpuas hati dengan penurunan ini, pilih saja la kerajaan anugerah tuhan.. kita tengok mampukan kerajaan huru hara ini memberikan segala2nya percuma di Malaysia..
ReplyDelete