“We will float the price of petrol one cent per week up to RON95’s market price”.
Source: The Star
It has just been announced by Deputy Minister of Domestic Trade and Consumer Affairs, Chong Chieng Jen, that the ministry has decided to raise fuel prices by one sen every week until the RON95 petrol price hits market price.
“The decision to float oil prices is to ease the cost of living of people and prevent the price of petrol from rising suddenly”, said the minister at a session in Dewan Rakyat today, according to Harian Metro.
Source: Borneo Post
The minister said this when asked how the ministry would handle price fluctuations after the implementation of the Petrol Subsidy Program (PSP).
He went on to remind the public that PSP would not be implemented in East Malaysia states, Sabah, Sarawak and Labuan as these citizens can still enjoy the existing RON95 subsidy at RM2.08 per litre.
Source: Malaysiakini
Chieng Jen added that the ministry will implement a Price Control Act to prevent traders from taking advantage of profits once the PSP takes effect in January 2020.
Hmmm. Looks like we’ll be seeing a lot more public transport users over the next year. What do you guys think of this?
Also read: Starting 2020, M’sians Can Receive RM12 or RM30 Petrol Subsidy While RON95 Price Floated Again
