PETALING JAYA: The Government's decision to do away with subsidies for RON95 and diesel is timely as there is currently an over-supply in the global oil market, which could lead to cheaper fuel prices, said Datuk Ei Kim Hock.
The MCA Central Committee member said that based on global crude oil prices, RON95 should cost only RM2.27 per litre instead of the current Government-subsidised price of RM2.30.
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