CIMB: RM3bil a year to keep fuel prices steady this year


February CPI was also affected by the drop in the transport group as fuel prices slipped.

KUALA LUMPUR: Keeping fuel prices steady at local pumps will be expensive for the government, but the subsidy bill will be more than offset by a projected increase in oil revenue as the price of Brent crude in the international market jumps.

At US$79.57 a barrel on Thursday, the price of Brent crude, the global benchmark, is at its highest level since November 2014.

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