Ismail Sabri: No RON95, diesel and LPG price hike, for now

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said today that the government will not increase the price of RON95 petrol, diesel and liquefied petroleum gas (LPG) for now. He however did not mention for how long the government would maintain current prices, when probed by reporters

However, with the subsidy for petroleum products set to baloon to a massive RM18 billion this year, it’s just a matter of time before pump prices go up. The current price of RON95 petrol is RM1.90 per litre, as opposed to RON97′s RM2.90 per litre after the recent round of revision. The government has already announced that super subsidy diesel for commercial vehicles will end effective 1 June.

“This decision was made because the government is concerned for the people’s welfare. But at the same time, the government will continue studying subsidy rationalisation as a whole following the increase of fuel and gas prices in the global market,” Ismail Sabri told reporters today.

© 2011 Paul Tan's Automotive News. All Rights Reserved.

This story originally appeared on Paul Tan's Automotive News on Thu, 26 May 11 02:36:17 +0000.

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