Thursday, July 18, 2013

Malaysia fuel prices eighth lowest in the world

Malaysia's petrol and diesel prices is the eighth lowest in the world.

"Out of 227 countries in the world, Malaysia's petrol and diesel price to its motorists is the eighth lowest," said Deputy Finance Minister Datuk Ahmad Maslan.

He said the cheaper price was due to the significant subsidy given by the government for petrol and diesel as well as cooking gas.

He disclosed this when winding up the debate on the Supplementary Supply Bill (2012) 2013.
Ahmad said the government had given a subsidy of 90.4 sen for each litre of diesel and 90 sen for each litre of RON95 petrol.

He said the people had only to pay RM1.80 per litre of diesel instead of RM2.74, and RM1.80 per litre of RON95 petrol.

"Without the subsidy of 90 sen per litre, the price for RON 95 petrol should be RM2.80 per litre," he said.

Ahmad said cooking gas enjoyed substantial subsidy as well, with a 14-kg cylinder costing RM26.60 instead of the actual price of RM47.46.

"This means that the government is giving a subsidy of RM20.80 per cylinder," he said.

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