The Domestic Trade, Cooperatives and Consumerism Ministry, Putrajaya, has announced that it is cutting subsidies for RON95 petrol and diesel by 20 sen per litre effective from 12am on 2 October. The new prices for RON95 will be RM2.30 per litre while diesel fuel will cost RM2.20 per litre.
Pricing for RON97 remains at RM2.75 per litre after a price reduction in September this year. There are also no price variations for LPG. The Malay Mail Online quoted a government claim that despite the reduction in subsidies, it will still need to spend over RM21 billion to subsidise RON 95, diesel and LPG this year.
No doubt queues at petrol stations have already started, as drivers seek to beat the price hike before the clock strikes 12am – at least for a week’s worth of petrol.