For the first time since RON97 was put on a ‘controlled market float’ in July last year, the price of the higher octane fuel has been reduced by 10 sen from RM2.90 per liter to RM2.80 per liter. The last change was on the 5th of May, where it was hiked 20 sen. The ‘mainstream’ RON95 fuel remains at RM1.90 per liter, while both petroleum diesel and B5 biodiesel (currently only available in Putrajaya) are sold at RM1.80 per liter.
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Showing posts with label Fuel Prices. Show all posts
Showing posts with label Fuel Prices. Show all posts
Wednesday, June 15, 2011
RON97 price dropped by 10 sen to RM2.80/L...
Effective 12am Today (Thursday) 16 June 2011...
For the first time since RON97 was put on a ‘controlled market float’ in July last year, the price of the higher octane fuel has been reduced by 10 sen from RM2.90 per liter to RM2.80 per liter. The last change was on the 5th of May, where it was hiked 20 sen. The ‘mainstream’ RON95 fuel remains at RM1.90 per liter, while both petroleum diesel and B5 biodiesel (currently only available in Putrajaya) are sold at RM1.80 per liter.
JEFF LIM'S OPINION: Huh! Only 10 cents? For crying out loud, What's the point?
For the first time since RON97 was put on a ‘controlled market float’ in July last year, the price of the higher octane fuel has been reduced by 10 sen from RM2.90 per liter to RM2.80 per liter. The last change was on the 5th of May, where it was hiked 20 sen. The ‘mainstream’ RON95 fuel remains at RM1.90 per liter, while both petroleum diesel and B5 biodiesel (currently only available in Putrajaya) are sold at RM1.80 per liter.
Thursday, May 19, 2011
Friday, February 25, 2011
Government To Maintain Present RON 95 And Diesel Prices
Government To Maintain Present RON 95 And Diesel Prices
KUALA LUMPUR, Feb 24 (Bernama) -- The government will maintain the current fuel price for RON 95 at RM1.90 and diesel at RM1.80 despite the escalating global oil price, Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said on Thursday.
It will instead discuss with the Finance Ministry for alternatives to cushion the increase, he said.
"The government will retain current prices and look at other options or alternatives even if the government's load increases.
"So far the situation can be handled without raising the price of RON 95 and diesel," the minister told reporters after announcing Bank Rakyat's annual financial results here.
He said the budget allocated for subsidy this year was RM10.3 billion and if the price trend continued, this could reach up to RM14 billion.
The RM10.3 billion subsidy covers petroleum, RON 95, diesel, LPG gas, sugar, rice and cooking oil.
Last December, the prices of RON 95 and diesel price were each increased five sen to RM1.90 and RM1.80 per litre respectively.
On the alternatives being looked at, he said there would be a review on the petrol and diesel quotas received by certain parties.
Asked when both ministries would finalise the discussion, he said decisions would be made as soon as possible.
"It won't take long. The more time is taken, the higher the amount of subsidy the government would have to bear," he added.
He said as an importer of food products, the country would also have to bear the increase in the prices of imported food products.
Commenting on whether prices for other subsidised products would be increased since the fuel price would not be hiked, Ismail Sabri said the government was not looking to increase the prices of other subsidised products.
"Effective Feb 1, subsidy has been stopped for all factories producing food products and drinks using 500 metric tonnes of sugar a month.
"The government would be able to save RM128 million," he said.
-- BERNAMA
It will instead discuss with the Finance Ministry for alternatives to cushion the increase, he said.
"The government will retain current prices and look at other options or alternatives even if the government's load increases.
"So far the situation can be handled without raising the price of RON 95 and diesel," the minister told reporters after announcing Bank Rakyat's annual financial results here.
He said the budget allocated for subsidy this year was RM10.3 billion and if the price trend continued, this could reach up to RM14 billion.
The RM10.3 billion subsidy covers petroleum, RON 95, diesel, LPG gas, sugar, rice and cooking oil.
Last December, the prices of RON 95 and diesel price were each increased five sen to RM1.90 and RM1.80 per litre respectively.
On the alternatives being looked at, he said there would be a review on the petrol and diesel quotas received by certain parties.
Asked when both ministries would finalise the discussion, he said decisions would be made as soon as possible.
"It won't take long. The more time is taken, the higher the amount of subsidy the government would have to bear," he added.
He said as an importer of food products, the country would also have to bear the increase in the prices of imported food products.
Commenting on whether prices for other subsidised products would be increased since the fuel price would not be hiked, Ismail Sabri said the government was not looking to increase the prices of other subsidised products.
"Effective Feb 1, subsidy has been stopped for all factories producing food products and drinks using 500 metric tonnes of sugar a month.
"The government would be able to save RM128 million," he said.
-- BERNAMA
Wednesday, February 9, 2011
Price of RON97 will fluctuate every month, says minister
Price of RON97 will fluctuate every month, says minister
By RAHIMY RAHIM
SOURCE: The Star Online
PETALING JAYA: The price of RON97 petrol will be determined at the end of each month due to the managed float of oil price, says Domestic Trade, Consumerism and Co-operatives Minister Datuk Seri Ismail Sabri Yaakob.“We will calculate the average oil price from the 1st to the 27th of each month and the average price will determine the price for the next month,” he said after launching Bank Rakyat i-Debit card Tuesday.
The price of RON97 increased by 10 sen to RM2.50 per litre, earlier this month.
Ismail Sabri said this would mean that the price of RON97 would fluctuate every month as it depended on the price of crude oil in the global market.
The RON97 petrol price also rose by 10 sen per litre to RM2.40 on Jan 4.
http://thestaronline.tv/v/6663
That's all folks, thanks for having the time and patience to read this blog entry.
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