RON95 and Diesel Prices Up By 20 Sen from Midnight

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PETALING JAYA: The price of petrol RON95 and diesel fuel will be increased by 20 sen effective by midnight (October 2, 2014, 12.00am)

The price of RON95 after the hike will be RM2.30 per litre and diesel fuel will cost RM2.20 per litre.

The Domestic Trade, Cooperatives and Consumerism Ministry said the government has decided to reduce the current fuel subsidy by 20sen in keeping with its subsidy rationalisation plan.

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“Despite the increase, the Government will still need to spend more than RM21bil on fuel RON95, diesel and LPG subsidies for this year.

“This move is in line with the subsidy rationalisation plan by the government to ensure that the country’s finance remain strong,” the Ministry said in a statement on Wednesday.

The Government also aim to curb further smuggling of fuel and also to ensure th current subsidy is not misused.

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