The price of RON97 petrol will be increased by 10 sen to RM2.50 effective midnight, according to industry sources.
The price of the premium fuel was last raised on January 4, also by 10 sen.
The government announced on July 16 last year that the price of RON97 will be subjected to a managed float to reflect the price of oil on the global market.
The latest increase will, however, not affect other fuels.
The base grade RON95 petrol remains at RM1.90 per litre, diesel at RM1.80 per litre, and LPG at RM1.90 per kg. The government currently subsidises 30 sen of the RON 95 fuel cost.
The Najib administration has opted to gradually slash subsidies as a way to reduce government deficit.
The government’s Performance Management and Delivery Unit (Pemandu) had said last year that savings from fuel subsidy cuts amounted to about RM3 billion last year. This number will rise to RM14 billion this year, RM21 billion in 2012, RM29.5 billion in 2013, and RM35 billion in 2014.
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Now you have confirmed that I was right during election 2008 to vote for ABN(Anything but BN). Keep doing it! Many more will be vindicated!
this is real transformation- high inflation, high crime rate, high unemployment, poor business opportunities n rampant corruption. Is malaysia a failed nation?little nation building process but too much hypocricy n rhetoric yet malaysians cant seem to see through all these lies.malaysians are indeed a forgiving lot
why is there an increase when recent studies shows no fuel price increase in terms of ringgit .. fuel price increase by 12% last year and RM appreciates by 11% .. so the increase is so minimal but yet the increase. I wonder since RON97 is not subsidize, who made all these "profits" then
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