All petroleum products’ prices will be reviewed in June — including RON95 — before a price increase decision is made, said the minister in charge today.
Domestic Trade, Cooperative and Consumerism Minister Datuk Seri Ismail Sabri Yaakob added that the finance ministry and Performance Management & Delivery Unit (Pemandu) among others will decide together, according to Bernama Online.
He reiterated that Pemandu’s subsidy rationalisation plan necessitated a revision every six months. Ismail stated that diesel, LPG and RON95 prices were revised last December, therefore a revision’s due.
He was replying to media after opening the Ipoh Umno division delegates meeting here. There has been intense speculation on the price of RON95 following the increase of RON97 price to RM2.90 per litre.
Ismail Sabri explained though previously he assured petrol prices would not rise, he did not guarantee they’ll remain indefinitely as the government’s petroleum subsidy burden is expected to rise from RM8 billion in 2010 to RM18 billion this year.
The savings the minister said should be directed to basic infrastructure and education.
