Government Allocates RM3 Billion To Finance Fuel Subsidies Until End Of 2018
Author Avatar

 

Government Allocates RM3 Billion To Finance Fuel Subsidies Until End Of 2018

The federal government has allocated RM3 billion to finance fuel subsidies to maintain the current retail prices of the RON95 petrol and diesel until the end of the year.

In a press statement released June 7, Finance Minister Lim Guan Eng said the government has decided to keep the retail prices of RON95 petrol and diesel at RM2.20 and RM2.18 per litre respectively for the rest of 2018. “The government will subsidise 33 sen per litre for all retail purchases of RON95 and diesel for this week. Without the subsidy, the price of RON95 and diesel would rise to RM2.53 and RM2.51 per litre respectively,” Lim added.

Meanwhile, RON97 petrol will be subjected to a float system as mentioned by Prime Minister Tun Dr Mahathir Mohamad. RON97 is priced at RM2.66 per litre until June 13.

The move to subsidise RON95 and diesel for the rest of the year is part of the new government’s effort to fulfill its 10 promises in 100 days as stated in its manifesto. This move is also a move to reduce the financial burden of the rakyat.

 

0 0 votes
Article Rating

SHARE

Comments (0)

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
Top Personal Finance News Articles
Post Image
Petrol Price Malaysia Live Updates (RON95, RON97 & Diesel)
The RinggitPlus Team
- 20th October 2021
We provide weekly updates on every Friday at 5pm on the prices of RON95, RON97 and Diesel in Malaysia and a chart that shows the movement of fuel prices across a 6-week period. Bookmark this page now!
Post Image
Shopee Introduces SPayLater, Lets Users Buy Items Now And Pay Later
Alex Cheong Pui Yin
- 18th January 2021
Shopee has introduced a new payment feature that lets its Malaysian users purchase items and pay for them […]
Post Image
Touch n Go RFID: What Malaysian Road Users Need To Know
Jacie Tan
- 10th August 2018
Everyone’s talking about Touch ’n Go RFID being used at Malaysian highway tolls soon – here’s what you need to know about it.
Post Image
Best High Interest Savings Accounts In Malaysia (October 2021)
Pang Tun Yau
- 6th October 2021
Make your money work for you by depositing them into the best high-interest savings accounts in Malaysia!

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image

Apple Launches A RM99 Polishing Cloth

Jacie Tan -
2nd February 2021