Tag: RON95

Retail Prices Of Petrol, Diesel To Drop From Tomorrow Until June 3

KUALA LUMPUR, May 27 -- The retail prices of RON95 and RON97 petrol have been reduced by 15 sen and 20 sen per litre respectively, while the price of diesel in Peninsular Malaysia has been reduced by 10 sen per litre for the period from May 28 to June 3. The Ministry of Finance (MOF) in a statement today announced that the retail price of RON95 petrol has been reduced to RM3.92 per litre from RM4.07, RON97 to RM4.65 from RM4.85, while diesel in Peninsular Malaysia has been reduced to RM4.87 from RM4.97. According to the ministry, in line with the Automatic Price Mechanism (APM) formula, the retail prices of petrol and diesel for the week in question were reduced following the decline in the average international market price in the previous week. “However, this decline does not indicate that the pressure on the global petroleum market has subsided as market uncertainty following the conflict in the Middle East that has lasted for more than 12 weeks still persists. “In addition, the damage to oil production and refining facilities in the Middle East will require a long period of time to recover,” the statement said. Meanwhile, MOF said the MADANI Government continues to maintain the price of subsidised petroleum products in a targeted manner to preserve the livelihood of the people and the operations of certain sectors in the uncertain global market conditions. The subsidised prices maintained are RON95 through BUDI95 at RM1.99 per liter, diesel in Sabah, Sarawak and Labuan (RM2.15), while for the Subsidised Petrol Control System (SKPS) and the Subsidised Diesel Control System (SKDS) at RM2.05 and RM2.15 per litre respectively. According to MOF through BUDI95, the government continues to maintain the subsidised RON95 price for more than 14 million eligible recipients, with more than 90 per cent of the total fuel consumption in the country involving subsidy recipients. “At the current unsubsidised RON95 price of RM3.92 per litre, the consumption of 200 litres will cost RM784. This means that the MADANI Government will bear RM386 for each recipient who uses the full BUDI95 entitlement. “Through the monthly eligibility ceiling of up to 200 litres, BUDI95 recipients will only pay up to RM398 per month for the full use of the entitlement,” the statement said. MOF said to balance the cost of living and fiscal expenditure needs prudently, the government will continue to take a targeted approach to protect the people from fuel price fluctuations, in addition to ensuring that the country’s supply remains sufficient and secure. Meanwhile, the government calls on the people to practise fuel consumption prudently through more efficient travel planning and reducing unnecessary travel to help ensure that the country’s supply continues to be secure in the current uncertain global market conditions. -- BERNAMA

KUALA LUMPUR, May 27 — The retail prices of RON95 and RON97 petrol have been reduced by 15 sen and 20 sen per litre respectively, while the price of diesel in Peninsular Malaysia has been reduced by 10 sen per litre for the period from May 28 to June 3. The Ministry of Finance (MOF) […]

Targeted Subsidies Shield The Public From Global Energy Crisis Impact – Amir Hamzah

KUALA LUMPUR, April 10 -- The government has created a buffer by maintaining targeted subsidies for RON95 and diesel at fixed prices, while aligning the prices of non-subsidised fuel with market rates to shield the public from the direct impact of the global energy crisis. Finance Minister II Amir Hamzah Azizan said the measure is crucial to protect critical sectors, including fishermen, public transport and eligible logistics vehicles, which continue to enjoy diesel at controlled rates. “Critical sectors that still benefit from subsidised diesel, such as fishermen, continue to receive diesel at RM1.65. “For land public transport vehicles, including school and express buses, ambulances and fire engines, the price is RM1.88 per litre, while eligible logistics vehicles and users in Sabah and Sarawak pay RM2.15 per litre,” he said at a global energy crisis briefing today. He said current global price pressures stem from low supply relative to high demand, security threats, as well as rising shipping and insurance costs. Amir Hamzah said Malaysia’s fuel supply is more robust compared with other countries, with Petroliam Nasional Bhd (Petronas) and several other oil companies managing the nation’s resources responsibly. “We can see this through petrol stations that continue to operate. Malaysians can still purchase fuel. Some countries have already imposed rationing, and hundreds of petrol stations elsewhere have been closed due to supply shortages,” he said. He said the crisis should be viewed as an opportunity for Malaysia to continue strengthening its economic resilience and to seize the chance to become a more dynamic and progressive society. “The people play an important role. This is the time for us to set aside our differences and choose unity in facing the crisis, including practising moderation in our daily lives. “The government’s priority at this time is to ensure sufficient supply of fuel, energy, essential goods and medicines for the rakyat. At the same time, the government is striving to safeguard the national economy and protect the people,” he said.

KUALA LUMPUR, April 10 — The government has created a buffer by maintaining targeted subsidies for RON95 and diesel at fixed prices, while aligning the prices of non-subsidised fuel with market rates to shield the public from the direct impact of the global energy crisis. Finance Minister II Amir Hamzah Azizan said the measure is […]

PM Anwar Seeks S’wak Cooperation In Tackling Diesel Smuggling

KUCHING — The federal government is seeking Sarawak’s cooperation to curb diesel smuggling at state borders. Prime Minister Datuk Seri Anwar Ibrahim said he has asked Sarawak Premier Tan Sri Abang Johari Tun Openg to cooperate with enforcement agencies, including the Ministry of Domestic Trade and Cost of Living (KPDN). “This is because diesel prices […]