Price Of RON97 Petrol Increases By 5 Cents On 7 March 2014
The price of RON 97 petrol seems to have gone up another five sen to RM2.90 per litre. The last price change for the premium fuel happened only a month ago, when the price was upped by five sen to RM2.85 per litre.
The price of RON 95 petrol remains at RM2.10 per litre and diesel at RM2.00 per litre. Unlike RON 95 and diesel, the pricing of RON 97 is minimally subsidised and claimed to be derived by market forces, so price changes happen more often than the other two fuels. The last time RON 97 was priced at RM2.90 per litre was from March 2013, representing a 20 sen jump.
The Petrol Price Of RON97 Fluctuates Monthly Based On Price Of Crude Oil In The Market
Domestic Trade, Consumerism and Co-operatives minister says the price of RON97 petrol would be determined at the end of each month, basing on the global crude oil price.
Feb 2011: The price of RON97 petrol will be determined at the end of each month due to the managed float of oil price, says Domestic Trade, Consumerism and Co-operatives Minister Datuk Seri Ismail Sabri Yaakob.
“We will calculate the average oil price from the 1st to the 27th of each month and the average price will determine the price for the next month,” he said after launching Bank Rakyat i-Debit card Tuesday.
24 Jan 2014: RON95 For Poor People Report Is Wrong, This Is What Tengku Adnan Really Said
Putrajaya today accused the media of spinning stories, saying there were no plans to limit the sale of RON95 fuel to the lower-income group.
Minister of Youth & Sports Khairy Jamaluddin tweeted earlier today that Federal Territories minister Datuk Seri Tengku Adnan Tengku Mansor was misquoted by dailies yesterday on the matter of RON95 fuel to be restricted for purchase only by the ‘poor’ from May/June this year.
The federal territories minister also said it was a suggestion on the study being conducted by the Economic Planning Unit (EPU) under the Prime Minister’s Department to ensure fuel subsidies that cost the government RM24.8 billion last year are better targeted at those who most need them.
“I just gave an example that RON95 is subsidised… so the government is looking at how to solve the problem so that only the deserving ones should use that,” Tengku Adnan told The Malay Mail Online today.
“I don’t know what EPU is going to come up with… they are doing a study now,” he added.
Several newspapers, including The Star and New Straits Times, quoted Tengku Adnan as saying sales of the RON95 petrol would be limited to those in the lower-income group.
Federal Territories Minister Wants To Limit The Sale Of RON95 To Only The Poor
In a bid to tighten government spending and ensure all subsidies are taken advantage by only deserving Malaysians, the subsidised price of RON 95 fuel is expected to be only available for the poor.
Federal Territories minister Datuk Seri Tengku Adnan Tengku Mansor made this revelation on Thursday adding that the new pricing policy may take effect in May or June this year.
“We want to impose the increase to only those who can afford it. Someone may drive a (Toyota) Alphard or even a Mercedes (Benz) but they still use RON95 petrol.
He said it was likely that those who do not qualify to purchase RON95 fuel at subsided prices, may only be eligible to purchase RON97 petrol instead.
“Even our neighbours from Singapore and Thailand as well as foreigners living and working in the country are enjoying the subsided fuel rates. Although this subject was proposed several times in the past but we will be implementing it now after we find a correct method of applying it,” he said.
As such, those deemed “undeserving” may only be eligible to use the unsubsidised RON 97 fuel instead, which is currently pegged at RM2.80 per litre. The new pricing policy may take effect as soon as May or June this year, though there’s no word yet on how it will be carried out.
Unconfirmed Reports Say RON97 Petrol Price To Increase To RM2.80 For The Month Of January
Berita palsu minyak petrol Ron 97 naik harga mulai 8 Januari 2014. Pekeliling yang menyatakan kenaikan RON 97 sebanyak 5 sen telah tersebar secara viral dilaman sosial. Namun, kesahihan pekeliling yang didakwa dikeluarkan oleh Kementerian Kewangan Malaysia itu menimbulkan pelbagai persoalan.
13 Nov: A SAYS reader sent this to us, but we haven’t heard anything from official sources yet
27 Sept: The government has denied rumours that fuel prices will go up again at midnight
Tiada sebarang kenaikan harga bahan api dalam tempoh terdekat
Deputy Finance Minister Datuk Ahmad Maslan even took to his Twitter account today to dispel fears that RON95 petrol would be increased for the second time this month.
“I would like to deny that the government is cutting subsidy for RON95 by 10 sen tonight. The subsidised RON95 is still at RM2.10 a litre. The real price is RM2.73,” he posted.
He explained that the government spent about RM2 million a month or RM24.8 billion a year in fuel and Liquefied Petroleum Gas (LPG) subsidies.
“The amount is very big but it is mostly enjoyed by the rich. We need subsidies that are mostly for the poor,” he tweeted.
Infographic: Malaysia petrol prices from 1990 – 2013
27 Sept: PDAM says expect further price increase for RON95 to curb petrol smuggling activities
Minyak RON 95 Dijangka Bakal Naik Harga Lagi
The public can expect further increases in the price of RON95 petrol in the near future as part of the government’s efforts to lower the country’s burgeoning fuel subsidies.
Even as the people are beginning the feel the sharp pinch of the recent fuel price hike, today President of Petroleum Dealers Association of Malaysia (PDAM) Hashim Othman warned the public to brace for more price hike on RON95 petrol.
He attributed the rise in petrol smuggling activities to cheaper fuel price in Malaysia.
“The smuggling of petrol and diesel was due to fuel being cheaper in Malaysia,” he said. Hashim said the subsidy would ease the burden of the lower-and middle-income groups so that they would be able to adapt to rising prices.
Despite the government’s efforts to help people lower their burden through subsidies, he lamented that there were some people who were taking advantage of them.
The PDAM president said by reducing the subsidy, it could somehow discourage those who exercise the fuel smuggling.
PDAM requested the government to abolish road tax and reduce insurance rates for cars
To PDAM’s credit, it had also asked the government to abolish road tax and reduce the insurance rates for 2,000 cc or less cars through the savings obtained from the reduction in fuel subsides.
However, from the supplementary bill, it could be concluded that even with more severe subsidies rationalisation program, the money saved from fuel subsidies reduction would not be enough to cover the expenses incurred due to government’s present style of spending – i.e. the RM2.88 million Hari Raya Open House held in Prime Minister’s official residence.
Economists say the subsidy of petrol might be decreased to the intended amount of 40cents a litre from the current 63cents per litre
PETALING JAYA (Sept 4, 2013): Yesterday’s fuel price increase may not be the only one this year. Some economists are already expecting another round of subsidy cuts before the year is out.
Alliance Research Sdn Bhd sees another hike of 20 sen per litre before year-end, which will raise RON95 petrol prices to RM2.30 per litre, given the continuing increases in international prices for crude oil.
“After the announcement which saw a 20 sen hike in the retail price of RON95 to RM2.10 per litre and diesel to RM2 per litre, the subsidy for RON95 is still at 63 sen per litre versus the originally intended amount of 40 sen per litre,” it said, adding that the latest hike is a step in the right direction.
For RHB Research Institute Sdn Bhd, it expects another increase six to nine months down the road which could see fuel prices being raised twice for 2014, while Kenanga Research sees the possibility of another fuel price hike at least once in the next six to 12 months.
Dan berdasarkan maklumat yang Berita Semasa perolehi, harga minyak RON95 akan naik RM2.30 selepas ini.
Deputy Prime Minister Tan Sri Muhyiddin Yassin says fuel price hike was necessary
BN mahu jadi kerajaan bertanggungjawab
“Of course, giving away fuel for free can make the government even more popular. But the fundamental question is not to become popular.”
“If nothing was done to reduce the (government) subsidy for the fuel prices, the country would have to put up with an acute economic situation.”
“Therefore, we reduced the subsidy and helped the country save RM3.3 billion annually, and the money can be spent by the government in the form of the 1Malaysia People’s Aid (BR1M).”
He said, the government did not marginalise the middle class, and was taking the appropriate measures to reduce the burden they had to bear.
Datuk Hashim Othman of the Malaysian Petrol Dealers Association says the RON97 price hike could have been because of US interference in Syria
World oil prices have risen with Brent crude increasing to US$115.56 per barrel due to concerns over the threats by the US to attack Syria, which will disrupt Middle East oil supply.
Datuk Hashim Othman said the price hike could have been influenced by world events, such as the looming threat of war by the United States against Syria. “The decision made by the US to interfere in the ongoing conflict in Syria could have contributed to the hike. This is because all international financial transactions are made in US dollars.”
Datuk Hashim Othman believed the price increase would not affect the low and middle-income earners because the fuel is used by luxury car owners.
CIMB chief economist Lee Heng Guie told The Malaysian Insider the increase in RON97 price was inevitable as even with the partial removal of the subsidy, RON95 was still being subsidised at 63 sen per litre so the actual pump price of RON95 was RM2.73.
“Only 3 to 4% of all motorists use RON97 so the impact of the increase is negligible,” said Lee.
CONFIRMED: RON97 petrol price to increase by 15sen at 12.01am, 5 September 2013
Harga RON 97 Naik 15 Sen Mulai Tengah Malam 5 September 2013
Tak sampai setengah tahun kembali mendapat mandat dalam PRU ke-13 lalu, kerajaan hari ini berterusan rancak merencana ekonomi negara. Terbaru harga minyak petrol RON 97 turut naik 15 sen. Harga sebelum ini RM 2.70 seliter. Semalam (selasa) minyak petrol RON 95 dinaikkan 20 sen menjadikan harga seliter RM 2.10.
Harga jualan runcit petrol RON97 di seluruh negara naik 15 sen seliter kepada RM2.85 seliter berbanding RM2.70 seliter berkuat kuasa malam ini.
The retail price of RON97 petrol is usually determined by a “managed float” in which the price will be changed according to market forces.
This is the first price hike for RON97 since March, when it was increased by 20 sen. In May, prices were however cut again by 20 sen after the 13th general election. Compared to a year ago, RON97 prices have been mostly lower as it peaked at RM3 a litre in September 2012.
Nazri says Rafizi is “a stupid kid” for suggesting that cabinet ministers pay for their own petrol
Rafizi says, “To alleviate the anger of the rakyat, he should also order all his ministers and deputy ministers to pay for their own petrol and diesel that is now being paid for by the government.”
“I want to rebut that stupid suggestion by (Rafizi). He is a stupid kid. He has accused me of being corrupt before, although I wasn’t. I want him to ask his menteri besar and exco members, the Penang chief minister and the menteri besar of Kelantan to pay for their own fuel as well.”
PKR director of strategy Rafizi Ramli said some 70 ministers and high-ranking civil servants now receive free petrol and therefore would not understand why people gripe about the 20-sen hike in price for diesel and RON 95.
Tourism and Culture Minister Datuk Seri Nazri Aziz has brushed off a challenge from Rafizi Ramli to debate the recent petrol price hike.
NGV dealers to greatly benefit from the petrol price hike?
“The price for conversion will depend on the cars’ engine system and the capacity of the NGV tanks,” he said, adding that he charges between RM2,800 and RM5,000 for each installation.
D Bayu Indah Enterprise Sdn Bhd owner Bahar Burham said his NGV equipment company had received more enquiries from motorists on his product following Monday night’s announcement.
Malaysia’s leaders speak up about the petrol price increase the day after the announcement was made
PSM secretary-general S. Arutchelvan said the government had gone against its word of not increasing the price of RON95 petrol.
“This increase will cause further hardship to the people especially the lower-income group,” he said pointing out that the minimum wage had not been properly implemented.
Chief activist of the Muslim Consumers Association (PPIM), Datuk Nazim Johan, said although the increase was inevitable, the government should plug the leakages in the system before placing the burden on consumers.
PKR desak Najib potong subsidi korporat, bukan naikkan harga minyak
Timbalan Menteri Kewangan: Harga Diesel Dan RON95 Malaysia Masih Terendah Berbanding Negara Jiran
Presiden Perkasa, Datuk Ibrahim Ali berkata, “Alasan kenaikan untuk mengukuh ekonomi negara perlu kepada penjelasan lanjut.”
“We still have the cheapest price in the Asean region,” says Domestic Trade Cooperatives and Consumerism Minister Datuk Hasan Malek, adding that his ministry would monitor prices of goods and services in other sectors to ensure they remained stable.
“Kenaikan Harga Minyak Tak Jejaskan Orang Susah” Bung Mokhtar Dihentam Rakyat
“Although our underlying position is strong, we want to ensure that our public finances are in order,” he said.
The price increase was to save Malaysia from fiscal deficit – in other words, we were running out of budget for 2013
Prime Minister Najib Razak said the reductions are needed to trim the budget deficit and strengthen economic fundamentals to boost investor confidence.
Analyst Khoo Kay Peng said the government had to make up for the fuel price increase in other ways. “There was nothing else the Government could cut back on to reduce fiscal deficit.
“The external environment is increasingly challenging,” Najib said. “The moderation in the current account of the balance of payments, coupled with continued fiscal deficits, pose medium-term risks to the economy.” Strengthening the fiscal deficit position is vital to sustaining the economy’s resilience and enhancing public and investor confidence, he said.
Asia’s emerging economies have been hit by an investor pull-out. The pull-out has been triggered by speculation that the US central bank will soon begin to cut back on the amount of money it is pumping into the economy.
Najib pledged measures to tackle risks to the fiscal position after Fitch Ratings in July cut Malaysia’s rating outlook to negative, citing the nation’s rising debt and lack of budgetary reform. Moody’s Investors Service said last month the country has a “narrow” revenue base and “relatively high” government deficits, state subsidy bills and debt.
“The fact the announcement was made just weeks before the annual budget shows that one of the objectives is to defend the ringgit,” said Song Seng Wun of CIMB Research.
How much will the government save by lowering its petrol subsidy?
The total fuel subsidy allocation for 2013 is RM24.8 billion. The reduction of 20 sen in fuel subsidy would mean that the Government will still subsidize 63 sen per liter of RON95 and 80 sen per liter of diesel.
The fuel price increases will help the government save about 1.1 billion ringgit this year and 3.3 billion ringgit annually in future by reducing state subsidies, Prime Minister Najib Razak said.
The government spent 24bn ringgit on fuel subsidies last year, which contributed to a widening budget deficit.
Malaysia’s budget deficit, which is the amount the government spent above the amount it raised, was 4.5% of its gross domestic product (GDP) last year.
Price comparison: how much more will you be paying for a full tank? (click for full image)
The history of petrol prices in Malaysia (click for full image)
How will the petrol price affect Malaysia ? What are the obvious repercussions?
Some say clearer roads and a ‘better’ quality of living, some say increased inflation, while others predict yet another price increase… [CLICK FOR FULL STORY]
Adakah kenaikkan ini akan mengakibatkan kenaikkan harga barang yang lain?
NEW PRICES: RON95 price will be RM2.10 per litre; diesel to cost RM 2.00 per litre
Pakar Ekonomi: Kenaikan Harga Minyak Adalah Tepat
Minyak RON95 & Diesel Naik 20 Sen Tengah Malam Ini
RON95 grade petrol will now cost RM2.10 per litre while diesel will cost RM2.00 per litre.
This is the first price increase for RON95 petrol and diesel since December 2010.
Perdana Menteri, Datuk Seri Najib Tun Razak pada Isnin mengumumkan kenaikan harga minyak RON95 dan diesel sebanyak 20 sen bermula tengah malam ini.
PM Najib made the announcement in Putrajaya on 2 September 2013
He said the government would increase the Bantuan Rakyat 1Malaysia (BR1M) payments to help alleviate the rakyat’s burden.
However, he declined to reveal how much the increased BR1M payments would be, saying he would announce it during the 2014 Budget.
The move is aimed at reducing the fiscal deficit, thus saving RM1.1bil per year for the Government, said Prime Minister Datuk Seri Najib Tun Razak. “The subsidy rationalisation will be carried out in many stages. The first is that the price of RON95 and diesel will be increased by 20 sen per litre from 12.01am Tuesday.”
Previously, the Najib administration had warned that the government’s many subsidies for fuel and staple goods must be “rationalised” to reduce the federal government’s burgeoning debt.
The last petrol price hike was in 2010
This is the first price increase for RON95 petrol and diesel since December 2010.
You should also read:
Recently, PM Najib Razak says RM41.60 per month is enough for households to survive. This 2014, BR1M incentives are t…
Has tertiary education become an exclusive privilege only for the rich? [CLICK FOR FULL STORY]
BUDGET 2014: Our nation’s yearly budget impacts us in a big way. What would you like to see in the 2014 Budget? [CLICK FOR FULL STORY]
- Feeling Helpless in the Face of Pain?
- Are You Looking For Great ROI on Your Diesel Fuel Dime?
- Is Our Government to Blame For High Gas Prices?
- Are Rising Gas Prices Causing You Stress?
- Texas Considers Alternative Fuels In The Face of Oil Prices - A Run-Down of Choices
- How to Buy a Used Diesel RV... Do your Homework Before Buying
- Ethanol, Fertilizer & Higher Natural Gas Prices
- High Gas Prices - 25 Ideas For Small Business
- The Credit Crisis Is Fueled By Fuel Prices
- Gasoline Prices Going Through the Roof
- Price Cutting Is For Sissies
- Consumers- Discovering Alternative Fuels In The Midst of High Gasoline Prices
- Gas Mileage Increase - Do You Need To Increase Your Gas Mileage?
- How To Use The Breath to Transform Pain, Stress and Anxiety
- Outrageous Gas Prices
- Common Computer Workstation Mistakes and Solutions For Pain Relief - Part 2
- Design Easy Face Painting
- Face Lift New Procedures and Techniques
RON95 and Diesel Prices Face Increase After Painful Subsidy Cuts have 3196 words, post on says.com at September 2, 2013. This is cached page on Auto News. If you want remove this page, please contact us.