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RON95 Prices Are About To Be Capped At RM2.20!

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For all of you who feel the pinch when filling up your car, we’ve got some good news!

Finance Minister Lim Guan Eng has announced that the weekly fuel price of RON95 petrol will be capped at a certain price, even if the market price goes up.

“People will be paying less when petrol price drops but when it increases, they need not worry as any increase exceeding RM2.20 will be subsidised by the government,” he said at the Perumahan Kastam in Bukit Gelugor yesterday, 1 January 2019.

via GIPHY

The new system is expected to be implemented within the first week of the new year. Previously, the minister said that the retail prices of fuel would be unchanged – RON97 (RM2.50), RON(% (RM2.20) and diesel (RM2.18) per litre. The Finance Minister also stated that the new retail prices for petroleum products will be announced after the Cabinet meeting taking place today.

According to the minister, the implementation of the weekly price float was delayed due to the objections from the Petrol Dealers Association of Malaysia. It was mentioned that the Prime Minister, Tun Dr. Mahathir Mohamad will hear them out before deciding on fuel prices.

Info via The Star

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