Wednesday, 1 October 2014

Petrol, Diesel Prices up 20sen from midnight 2nd Oct 2014

Credits to: The Star Online Newspaper ( Petrol, Diesel Price Hike by 20 Cents/Litre )

For everyone's information, the price of RON95 and diesel fuel will go up by 20sen effective midnight 2nd Oct 2014.
The new prices for RON95 will be RM2.30 per litre while diesel fuel will cost RM2.20 per litre.
The Domestic Trade, Cooperatives and Consumerism Ministry said the government has decided to reduce the current fuel subsidy by 20sen in keeping with its subsidy rationalisation plan.
“Despite the increase, the Government will still need to spend more than RM21bil on fuel RON95, diesel and LPG subsidies for this year.
“This move is in line with the subsidy rationalisation plan by the government to ensure that the country’s finance remain strong,” the Ministry said in a statement on Wednesday.
It said the Government also aimed to curb the further smuggling of fuel by irresponsible quarters and also to ensure that the current subsidy is not misused.
“The Government will continue to implement the subsidy rationalisation in stages so as to not burden the lower income group.

Prices Update:
RON 95 - (previous) RM 2.10 , (Now) RM 2.30 - Increased 20 Cents/Litre
DIESEL - (Previous) RM 2.00 , (Now) RM 2.20 - Increased 20 Cents/Litre