Holistic targeted fuel subsidy mechanism needed

SINCE February 2020, domestic fuel prices were set to be determined by a managed float price setting mechanism. After a year of implementation, the rising global crude oil prices had led the government to cap the RON95 and diesel at RM2.05 and RM2.15 per litre respectively.

The price cap is being maintained until today, notwithstanding the higher volatility in global crude oil prices.

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