SHAH ALAM, 21 Nov: The government will abolish subsidies for the RON95 petrol and diesel from December 1.
The Minister of Domestic Trade, Cooperatives and Consumerism, Datuk Hasan Malek, said that starting December 1 the retail price of RON95 petrol and diesel will be fixed according to a managed float system, Bernama reported.
He said that from Dec 1 onwards there will be no more subsidy for RON95 and diesel anymore as the world market price is lower than the price at the pump.
Hasan said that the pricing of RON95 and diesel on December 1 would depend of the world market price throughout November.
NS