Government Lowers Petrol Price Cap For RON95 And Diesel By 3 Sen
Author Avatar

petrol pump

The government has revised the ceiling prices for RON95 petrol and diesel to RM2.05/litre and RM2.15/litre respectively. The new retail price caps are 3 sen lower than the ceiling prices that were previously introduced in February 2019, which were RM2.08/litre for RON95 and RM2.18/litre for diesel.

The ceiling prices mean that the retail price of petrol in Malaysia will remain at the capped price even if the market price of RON95 and diesel go over RM2.05/litre and RM2.15/litre. If the real market price goes over the determined price cap at any given week, the government will bear the difference through subsidies.

budget 2021 consultation roadshow 2

(Image: Malay Mail/Miera Zulyana)

According to a statement by the Ministry of Finance, the decision was made based on the trend of sharp price increases of petroleum products following rising global demand for oil. “The government is committed to lowering the cost of living of the rakyat and will constantly observe the effects of changes in global oil price while taking the appropriate steps to balance the government’s subsidy liabilities with the need to preserve the welfare and well-being of the rakyat,” the statement read.

The retail price of RON95, RON97, and diesel will continue be set weekly according to the Automatic Price Mechanism (APM) and announced every Friday.

(Source: Ministry of Finance)

0 0 votes
Article Rating


Comments (0)

Notify of

Inline Feedbacks
View all comments
Top Personal Finance News Articles
Top Personal Finance News Articles
Post Image
Petrol Price Malaysia Live Updates (RON95, RON97 & Diesel)
- 20th September 2023
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
Astro 4K Ultra HD Broadcast To Be Available For Subscription By The End of This Year
Brian Chung
- 14th August 2018
By the end of 2018, Astro customers will be able to watch football matches in Ultra HD. Read on to know more about the 4k Ultra HD service.
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 (September 2023)
Pang Tun Yau
- 11th September 2023
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