Finance Ministry: Govt to cap price of RON95 petrol at RM2.08 per litre
Wednesday, 27 Feb 20197:23 PM MYT
by hemananthani sivanandam
PETALING JAYA: The Cabinet has decided to cap the price of RON95 petrol at RM2.08 per litre, even if the market price exceeds this, says Finance Minister Lim Guan Eng.
"If the market price falls below that, then the weekly price of RON95 (petrol) will be below RM2.08," he said, adding that the Cabinet had agreed to this.
"The prices for RON95, RON97 (petrol) and diesel will be based on the automatic price mechanism and will be announced weekly," said Lim in a statement on Wednesday (Feb 27).
The current retail prices of fuel per litre are: RON95 petrol (RM2.08), RON97 petrol (RM2.38) and diesel (RM2.18).
He had previously said in January that the government had decided on a weekly floating fuel price system to enable consumers to benefit from any drop in global oil prices.
To protect consumers in the event of a substantial increase in global prices, the retail price of RON95 petrol would be capped using subsidies, said Lim.
Read more at https://www.thestar.com.my/news/nation/2019/02/27/finance-ministry-govt-to-cap-price-of-ron95-petrol-at-rm2dot08-per-litre/#p9iOitphT42yi2p5.99
