RON95 to go up 1 cent weekly starting next year
PUCHONG: The RON95 petrol prices will be floated in stages once the Petroleum Subsidy Programme (PSP) is implemented in January to avoid burdening consumers.
Deputy Domestic Trade and Consumer Affairs Minister Chong Chieng Jen, said the ministry had decided to increase the fuel price by one cent per week, until the RON95 petrol price hit the market rate.
“The decision to float oil prices is to ease the cost of living and prevent the price of goods from going up drastically.
“We will float the RON 95 price one cent per week up until it hits the market rate,” he said during the Dewan Rakyat session today.
He was responding to additional questions posed by Rubiah Wang (GPS-Kota Samarahan) who wanted to know the ministry’s mechanism to deter price increase after the implementation of the PSP.
Chong said that PSP would not be implemented in Sarawak, Sabah and Labuan as they would continue to enjoy the RON95 subsidy at RM2.08 per litre.
Chong said the government would enforce the Price Control Act to prevent traders from taking advantage after the implementation of the PSP.
Earlier, Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution had informed the PSP would be enforced only in Peninsula Malaysia and it would reduce the burden of 2.8 million people who receive government assistance via Bantuan Sara Hidup, but own vehicles.
By Irman Hashim
