Update
Motorists have another excuse to go into a fit of rage now that the price of RON97 will go up 15 sen to RM2.85 a litre from midnight onwards.
The Petrol Dealers Association of Malayia (PDAM) confirmed this earlier today. According to PDAM president Datuk Hashim Othman, the prices are going up due to the various global issues such as the United States’ planned strike on Syria and the ringgit’s recent poor performance. [Source]
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Prime Minister Najib Tun Razak has officially confirmed the price hike of the RON95 fuel at midnight.
He said despite the increase, the government would still be subsidising 63 sen for RON 95 petrol.
“The subsidy rationalisation will be carried out in many stages. The first is that the price of RON95 and diesel will be increased by 20 sen per litre from 12.01am Tuesday,” Najib told a press conference after chairing a meeting of the Fiscal Policy Committee (FPC) on Monday.
To address the burden on low-income and vulnerable groups in the fuel subsidy rationalization, Najib said the quantum for the 1Malaysia People’s Aid (BR1M) will be increased in the upcoming national budget announcement.
The new prices for RON95 will be RM2.10 per litre and RM2.00 for diesel.
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Hype.my is reporting rumors of an increase in the RON95 fuel prices. It is said that it’ll go up from RM1.90 to RM2.10 per litre by midnight!
The Ministry of Domestric Trade, Cooperatives and Consumerism has denied allegations of any hikes in fuel prices, but social media users have been questioning the rise in prices:
More to come.
What do you guys think of the potential increase in RON95 prices? Share your thoughts in the comments section below.
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