The Minister of Economy, Rafizi Ramli recently confirmed that the government will continue with the plan to cut down fuel subsidies.
A viral TikTok post has “alerted” Malaysians about the alleged upcoming price for RON95 petrol – which sees a MASSIVE JUMP from RM2.05 a liter to RM3.36 a liter. That is almost the price of RON97 – RM3.42 a liter, which is the current price for RON97 according to Ringgit Plus.
For illustration purposes only
If the price of RON95 is bound to go that high, we can’t imagine the price hike for other fuels.
According to the TikTok post, the new price for RON95 will be implemented in June 2024, much to the dismay of the TikTok user.
“Half of our salaries will be spent on gas alone. It’s time to go take the motorcycle to work.”
Are we bound to pay that much for RON95 in less than 2 months? Let’s go back to Rafizi’s recent interview with Bloomberg.
At the time of writing (April 22), Rafizi has confirmed that the fuel subsidy cut will happen this year to lower the country’s fiscal deficit. However, Rafizi did not mention exactly when will the subsidy cut start, nor the new prices for RON95 and RON97 fuels.
Rafizi has also yet to issue another statement on the future prices of the gas.
The talk about fuel subsidy cuts has been ongoing since last year, with a targeted subsidy program in mind to optimise the resources for those who need them the most.
“The blanket subsidies on RON95 fuel have taken up most of the total RM81bil in subsidies handed out in 2023,” Rafizi said.
Prices of goods bound to skyrocket?
Despite being unconfirmed, netizens foresaw the prices of goods to increase in the near future following the adjustments of the gas prices.
“Chicken rice will soon be RM20. Rafizi said prices of chickens, petrol, and SST will increase but the people can still afford them. Anwar and Rafizi are both troubling the people.”
“Wait until the next GE. PH will fall with these price hikes.”
@cwk6083 RON95飙升
With the fuel subsidy cut confirmed, what do you think the new prices will look like?
Also read: “No U-turn once implemented” – Rafizi Says Govt Will Go Ahead With Petrol Subsidy Cuts This Year
