The Government May Remove The Price Cap On RON95 Petrol

According to The Star Online, the government is considering removing the price cap on RON95 petrol.

Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail told the website that the decision will only be made once the government subsidy comes into effect.

The targeted petrol subsidy, according to Saifuddin, is expected to be limited to recipients of the Bantuan Sara Hidup (BSH) only. The subsidy will reportedly involve the government directly banking in money into the accounts of those eligible each month, and the recipients can use the money to pay for the petrol.

However, until the whole subsidy issue is ironed out, the government will sit on the decision for now.

“We have two options. We could remove the cap once the targeted subsidies come into effect, or we could maintain in.

"The Cabinet has not decided on this yet," Saifuddin was quoted as saying.

In February, the government introduced the cap system where the price of RON95 petrol would be capped at RM2.08 per liter for all Malaysians, regardless of the current global oil prices.