MY: Malaysia to stop subsidising RON95 fuel
From the 1st of December 2014, prices of the lower grade RON95 petrol will no longer be subsidised. New prices will be determined by a managed float. This is good news for motorists, as according to domestic trade and consumer affairs minister Hasan Malek, the new pricing system should mean that RON95 petrol should be slightly lower than the current fixed price of RM2.30 (SGD$0.90) per litre. The ruling will also allow the petrol prices to better follow the global trend. This scheme has proven successful with the higher grade petrol RON97 so far, a scheme that was put in place in July 2010.
OneShift Editorial Team
22 Nov 2014
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