No rise in prices of RON95 and diesel

No rise in prices of RON95 and diesel

KUALA LUMPUR: The Government will maintain the current fuel price for RON95 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.

It will instead discuss with the Finance Ministry about 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 RON95 and diesel,” he told reporters after announcing Bank Rakyat’s annual financial results here yesterday.

He said the budget allocated for subsidy this year was RM10.3bil and if the price trend continued, this could reach up to RM14bil.

The RM10.3bil subsidy covers RON95, diesel, LPG, sugar, rice and cooking oil.

Last December, the prices of RON95 and diesel were 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. —Bernama


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