Govt lowers ceiling price for RON95 and diesel, RM 2.05 and RM 2.15 per litre

Arif · Feb 10, 2021 08:03 PM

Govt lowers ceiling price for RON95 and diesel, RM 2.05 and RM 2.15 per litre 01

In a statement today, finance minister Tengku Zafrul Aziz announced the new ceiling price for petrol and diesel. Free Malaysia Today reports that the price for RON95 is capped at RM 2.05 per litre, while diesel is capped at RM2.15 per litre.

“The ceiling prices for RON95 and diesel are lower compared with the ceiling prices set by the previous administration in 2019, which was RM2.08 per litre for RON95 and RM2.18 per litre for diesel.”

In the recent weeks, fuel prices have been seeing a steady increase with RON 95 currently at RM1.93 per litre, RON97 at RM 2.23 per litre, and diesel at RM2.11 per litre.

The Malaysian government will subsidise the difference if the retail price exceeds the ceiling price.

According to the Malaysian finance minister, “This decision was made based on the upward trend in petroleum product prices following the higher demand for crude oil in line with the reopening of various economic sectors around the world.” 
 

Arif

Writer

Previously an engineer in an automotive manufacturing company and a highway concessionaire. A part-time research student on biofuels and diesel engines. Obsessed with vehicle electrification and the future of transportation.

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Up to 20% higher than average trade-in price

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