RON95 price to be reviewed in June

May 17, 11

Come next month, the government will review prices of all petroleum products, including the RON95 petrol, before deciding to retain them or otherwise, Domestic Trade, Cooperative and Consumerism Minister Ismail Sabri Yaakob said today.

He said the price review to be conducted by the ministry and other agencies such as the Finance Ministry and the Performance Management & Delivery Unit (Pemandu) would determine whether prices would be maintained or increased, depending on the government’s subsidies.

“According to Pemandu’s subsidy rationalisation plan, there will be a revision every six months for subsidies on all products.

“The last revision we had for diesel, LPG and RON95 was in December, last year.

“This means that a mid-year revision will be carried out this month or early June… I can’t say what will happen but the revision will take place and the government’s subsidy burden is high,” he told reporters after officiating the Ipoh Umno division delegates meeting today.

He said this when asked on the current price of RON95 petrol, following the increase in price of RON97 petrol to RM2.90 per litre.

On April 2, the price of RON97, which was floated according to current petrol prices, rose 20 sen to RM2.70 per litre, following the Middle East crisis, while the price of RON95 increased by five sen to RM1.90 per litre last December.

Ismail Sabri said, although he had previously stated that petrol prices would not go up at the moment, it did not guarantee petrol prices would stay the same forever, because the government was already burdened with subsidies for petroleum products.

“Last year, the government’s subsidy for petroleum products was RM8 billion when world fuel prices shot up, and we don’t see signs that it will drop.

“If this continues, the government will bear RM18 billion in subsidies this year, an increase of RM10 billion,” he said.

He said, should subsidies be reduced, the RM10 billion could be used to build more schools, village roads, housing projects and educational aid.

– Bernama

  1. #1 by yhsiew on Tuesday, 17 May 2011 - 5:03 pm

    I wonder if BN is saving money through subsidies cut to finance buy-elections during GE13?

  2. #2 by Bigjoe on Tuesday, 17 May 2011 - 8:20 pm

    If they let it rise by only 5/10 cents, then election is still possible. But if they let it up by 20 cents or more, then election is off for a while.

  3. #3 by waterfrontcoolie on Tuesday, 17 May 2011 - 9:47 pm

    While we play politics with all kinds of goods in the market and quietly squandered away some rm$12 billion on 999 acres of land at Port klang, the Korean Goverrnment is also investing similar amount a new R&D centre with opportunity for 3,000 scientists to push their programmes for the 21st Century. Of Course, Taiwan did the same so did Singapore. Here we have super-corridors everywhere with billions spent but still depend on the screw-driver assemblies with foreign labourers to do the job. At the same time, we spend all our time pursuing political vendetta showing our half-baked government lawyers making fools of themselves at the public platform. All those countries were less developed than us, 40 years ago. Today, they compete with the most advanced nations in all kinds of R&D and we, with our natural resources could only beg them to come to invest in assembling jobs! Remember that the originators of some of those products could well come from Malaysian brains doing research over there. Think of it, it is sad for a nation that pursues ‘self-destruction’ through myopic policy based on self-created fear because of differences in our approaching paths to the Creator!
    As long as we are earth bound, no one will ever prove who is right or wrong in this issue but the humankind had been here thousands of year before anyone write any holy books!
    But the real truth is Malayisa has dropped down the competition parade among our fellow TIGERS, this we cannot deny!

  4. #4 by tak tahan on Tuesday, 17 May 2011 - 10:52 pm

    Does anyone has the website to check the registered electoral roll?Don’t mind..

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