World oil prices down, government should reduce price of RON95

SHAH ALAM, 1 Nov: The Federal Government should reduce the price of the RON95 petrol as the global oil prices are down.

The Member of Parliament for Kluang, Liew Chin Tong, said that the central government should state their stand as their move is contrary to trend of the crude oil prices globally.


He said that the central government should not impose the petroleum sales tax to gain profit because of the small profit from Petronas.

“The Budget 2014 expected the price of crude oil to be at USD$110 per barrel while the Budget 2015 expects USD$105 per barrel. However, the current price is from USD$80 to USD$85 per barrel.

“The drop in oil prices and the reduction of subsidy has caused the government’s profits to drop by at least 30%, which comes from profit related to Petronas petroleum,” he said in a media statement.

Liew said that Prime Minister Datuk Seri Najib Razak should reject the proposal by the Deputy Finance Minister Datuk Ahmad Maslan to impose the petroleum sales tax is the global oil price continues to go down.

He said that it is not fair to the people if the sales tax is charged when the price of crude oil has dropped below the current sales price.

“Najib should reject that choice,” he said.


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