There’s good news and bad news this week for motorists. For those who regularly use RON95 petrol, there is no change in the pump prices which will remain at RM2.08 per litre for the coming week. For those who prefer to use RON95 Euro4M petrol, there’s an increase of 5 sen which bumps the price per litre up to RM2.43. Diesel continues to be at the capped price of RM2.20 a litre for the Euro2M grade, 10 sen more a litre for the Euro5 grade.
The RM2.08 for RON95 petrol is the new ceiling price that has been decided by the government. On Wednesday, the Finance Ministry issued a statement saying that the previous cap which had been RM2.20 is reduced to RM2.08. As global trends indicate a rise in oil prices, the government must thus be using subsidies to keep the price at RM2.08.
The statement explained that the initiative by the Federal government is intended to protect the interests of the B40 segment. However, the capping of pump prices for RON95 petrol and diesel will end when the targeted subsidy approach is implemented in the middle of this year.