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PETALING JAYA: The price of gasoline and diesel of 95 RON has been capped at 2.0 and 2.15 ringgit per liter respectively, following the increase in world oil prices, says Finance Minister Datuk Seri Tengku Zafrul Aziz.
Zafrul said that the recently announced limit price for RON95 and diesel is lower compared to the limit price implemented by the previous Pakatan Harapan government in 2019, which is RM2.08 for RON95 and RM2.18 for diesel.
“The government will cover the difference between the real market price and the weekly retail price that is set weekly through the allocation of subsidies,” he said.
Zafrul said the government decided to introduce the cap because the real market price of oil has been rising, along with demand for crude, which is driven by the reopening of various economic sectors in the world.
“The global price of oil is also influenced by the Covid-19 vaccination plan that is gradually starting to take off around the world.
“Malaysia itself will start its national immunization program at the end of February,” he said.
Zafrul assured that the government is committed to reducing the cost of living and will always monitor the effects of changes in global crude prices.
“We will also take appropriate measures to balance government subsidies and the need to maintain the well-being of the people,” he added.
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