PETALING JAYA: Get ready, folk. The price of RON95 petrol will be increased one or two sen a week from January 2020 until it reaches market price.
Deputy Domestic Trade and Consumer Affairs Minister Chong Chieng Jen announced this at the Dewan Rakyat today. He was replying to a supplementary question from Rubiah Wang (GPS-Kota Samarahan) who had asked what Putrajaya was doing to prevent the prices of goods from soaring once fuel subsidies are withdrawn.
Sabah, Labuan and Sarawak would continue to benefit from the subsidised price of RM2.08 per litre, Chong said without elaborating.
At present, the price of RON95 petrol under the automatic price mechanism is RM2.36 a litre.
Chong said the gradual move to float the RON95 price would ease the burden on the people. It would also stop traders from profiteering, he said, adding that action would be taken against such offenders.
The RM2.2bil fuel targeted subsidy programme is expected to benefit more than eight million Malaysians. They include 2.9 million people in the lower income group (B40) who are receiving the Bantuan Sara Hidup (government aid) as well as those in the middle class (M40).
A microsite on the Petrol Subsidy Programme was put up on Oct 15 to allow eligible B40 recipients to check their personal details and inform them of their entitlement.
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