New fuel prices starting Dec 1, why is the price of diesel up?

SHAH ALAM, 30 Nov: The central government should provide clarification on the implementation of the petrol and diesel price system using the managed float method according to market prices starting December 1.

According to media reports, the price of RON97 will be reduced by 9 cents (RM2.46 per litre).

RON95 will be reduced by 4 cents (RM2.26 per litre), while the price of diesel came at a surprise with an increase of 3 cents (RM2.23 per litre).

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The Seputeh Member of Parliament, Teresa Kok, said that if the report is true, the Deputy Finance Minister, Ahmad Mazlan, needs to explain to the people about the new price calculation.

She said that it is shocking that the price of diesel will rise by 3 cents when according to media reports, based on the OPEC’s decision, the price of that fuel has fallen sharply.

“Why is it that with such a big drop in crude oil prices, Malaysians will still have to pay a higher price for diesel?” asked Teresa in a media statement.

She said that if the calculation under the system is such that there can only be a 4 cents reduction for RON 95 and an increase of 3 cents for diesel price, this means that the government should not have completely removed the fuel subsidy

“In order not to burden the people, any subsidy removal must be done in stages and sufficient subsidies must be reintroduced when crude oil prices go upwards,” she said.

NS

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