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Fuel subsidies in Malaysia to be abolished

By Deeq on 24 Nov 2014 in Other News

Attached Image The Malaysian government will abolish fuel subsidies starting December 1.
 
The brief report cited Minister of Domestic Trade, Cooperatives and Consumerism Datuk Hasan Malek as saying that prices of RON95 petrol and diesel will be managed according to a managed float, presumably similar to the current pricing structure used for RON 97 petrol.
Fuel prices will be set based on the average of global oil prices in the preceding month.
 
The news daily quoted Hasan as saying, ”As for Dec 1 prices, we will calculate the average from Nov 20 to Nov 30.”
With the current downtrend in crude oil prices, the revised price may not necessarily be higher, but it is still too soon to say.

oil, petrol, fuel, diesel and 3 more...

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Deeq
Written by Deeq
With intense love for cars and bikes since little, and passion for photography, Siddiq tries hard to bring cars to life on the screen, proving his worth as well as his passion for the job.



  • 1
ManHong Nov 25 2014 02:22 PM

it's still too soon to say, now remove subsidy, then GST, etc etc..

Turboflat4 Nov 26 2014 09:52 AM

it's still too soon to say, now remove subsidy, then GST, etc etc..

 

Whatever the case may be, if they're transparent (and consistent) with the formula used to set fuel prices then they're already way ahead of Singapore's system.

Choo_Yao_Chuen Nov 26 2014 06:11 PM

Toll charges up, VEP up, now petrol price up. No Singaporean go JB leow

Turboflat4 Nov 26 2014 06:47 PM

Toll charges up, VEP up, now petrol price up. No Singaporean go JB leow


And if that were the case, I couldn't be happier about that. M club drive to Penang being scheduled. Should be damn shiok going through customs if really no one going through for "small" trips.

Regrettably, I know the checkpoint will still be crowded.
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