Malaysia raises petrol prices by 40%

[DaN zI]

Sources from CNA :

 

KUALA LUMPUR - Malaysia's petrol price will rise 40 percent to 2.70 ringgit (0.84 dollars) a litre from Thursday as controls are removed under a revamped subsidy system, the prime minister said.

 

"Effective from tomorrow, 5 June 2008, the price of petrol will be raised by 78 sen and the price of diesel will be raised by 1.00 ringgit," Prime Minister Abdullah Ahmad Badawi told a press conference.

 

"The new price of petrol will be 2.70 while the new price of diesel will be 2.50," he said. Petrol currently costs 1.92 ringgit (0.60 dollars) at the pump, among the cheapest in Asia.

 

Domestic Trade Minister Shahrir Samad said that under the new scheme, drivers of smaller vehicles will receive a cash payment to offset the rising costs.

 

"For cars 2000cc and below, they will get back 625 ringgit in cash payments as a form of direct subsidy," he said, adding that this equated to subsidising some 800 litres of fuel.

 

Shahrir said that the new price of 2.70 ringgit did not reflect the full market value, which could be as high as 3.00-4.00 ringgit when the price controls are completely removed in August.

 

He said that the increase would impact on inflation, which came in at 3.0 percent in April.

 

"With this hike, the CPI (consumer price index) is expected to rise to 5.0 percent" this year, he said.

 

The minister said that without the new measure, the government's actual payout for oil subsidies would have totalled 28 billion ringgit this year, and that it will now save some 4.0 billion ringgit.

 

Malaysia has already moved to ban sales of subsidised fuel to Thais and Singaporeans who make trips across the border to fill up their tanks.

 

"We want to pay the subsidy directly to those who deserve them. We do not want foreigners to benefit from our subsidy," Shahrir said.

[compfused]

I'm lost..So are we still allowed to pump petrol within 50 km of the border or not?

[Barongan78]

bike cn still pump but nt too sure for cars...

[DaN zI]

if i not wrong . the ban had been lifted , and they raised the price lor . but in august price will be UP more .

[bikeseeker]

bike cn still pump but nt too sure for cars...

 

Of course can still pump with the increase price lah. Once they raise prices, bike sure affected wat.

[Barongan78]

Of course can still pump with the increase price lah. Once they raise prices, bike sure affected wat.

 

wat i mean is, bike cn stil pump within 50km but at new rate...

for cars, i'm not to sure... d paper nvr state ley car cn pump or nt within 50km..

skali go pump, bn fine...

[xiaobanz]

If cannot pump within the 50km radius, how are the cars going to run at Pasir Gudang.

[PaLmEr]

these twits seem to be changing their mind almost daily.

[DaN zI]

yea sianz . lidat dono worth it or not liao cos need to spend ard extra $4+ . each trip save me only $10SG(nv count wear n tear , effort etc.) . sianz

[diddy the patient]

stll cheap watttt.... compare sgd

[Raptor]

So they finally came to their senses.

 

Stupidity can only last so long.

 

Mebbe now the causeway won't be jammed so much anymore after August.

[diddy the patient]

So they finally came to their senses.

 

Stupidity can only last so long.

 

Mebbe now the causeway won't be jammed so much anymore after August.

 

:thumb:

[smiley73]

now petrol rm 2.70 still cheap

[loufu]

now petrol rm 2.70 still cheap

 

but u save less oredi.. for those not living in west or north area will lose out even more...

[loufu]

wat i mean is, bike cn stil pump within 50km but at new rate...

for cars, i'm not to sure... d paper nvr state ley car cn pump or nt within 50km..

skali go pump, bn fine...

 

frm my understanding of the article abv... the ban stil there... plus they cut their subsidy for fuel prices, meaning every eligible user will pay RM2.70

[diddy the patient]

now petrol rm 2.70 still cheap

 

thats Y... wats the fuss

[DaN zI]

YeA.. for me per trip e most save $7-8 . no point as need to queue and e effort in going .my hse to there ard 20km+ .

[DaN zI]

frm my understanding of the article abv... the ban stil there... plus they cut their subsidy for fuel prices, meaning every eligible user will pay RM2.70

 

wat abt e so call cash rebate? i don understand how they rebate .

[loufu]

wat abt e so call cash rebate? i don understand how they rebate .

 

 

"For cars 2000cc and below, they will get back 625 ringgit in cash payments as a form of direct subsidy," he said, adding that this equated to subsidising some 800 litres of fuel

 

mayb msian who can produce their vehicle logcard tat they own a car less than 2000cc can go get the cash $$$??

[PaLmEr]

OK, just back from JB, the pump prices changed right in front of me right after i finished pumping and while i was closing my fuel cap.

 

*Drum Roll* The new rates...

RON 97 - RM 2.704 (S$1.16)

RON 92 - RM 2.621 (S$1.12)

Diesel - RM 2.581 (S$1.10)

[compfused]

OK, just back from JB, the pump prices changed right in front of me right after i finished pumping and while i was closing my fuel cap.

 

*Drum Roll* The new rates...

RON 97 - RM 2.704 (S$1.16)

RON 92 - RM 2.621 (S$1.12)

Diesel - RM 2.581 (S$1.10)

Lucky you finished pumpin..Imagine seein it at 1.97 and when you about to pump the price suddenly changed..

[Th3VIRUS]

OK, just back from JB, the pump prices changed right in front of me right after i finished pumping and while i was closing my fuel cap.

 

*Drum Roll* The new rates...

RON 97 - RM 2.704 (S$1.16)

RON 92 - RM 2.621 (S$1.12)

Diesel - RM 2.581 (S$1.10)

 

wah so heng uh

[buttbutt8]

why M'sia diesel so f***ing ex ah???

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