In a statement Thursday (June 7), Finance Minister Lim Guan Eng said that the Government decided to fix the price of RON95 at RM2.20 while diesel will retail at RM2.18.
Lim added that RON97 will be priced at RM2.66 from Thursday until June 13.
"The Federal Government will subsidise 33 sen per litre for all retail purchases of RON95 and diesel for this week. Without the subsidy, the price of RON95 and diesel would rise to RM2.53 and 2.51 per litre respectively," Lim said.
He added that global crude oil prices have reached US$76 (RM302) per barrel while refined petrol and diesel products were currently priced between US$87 (RM346) and US$88 (RM350) per barrel.
Lim also said that the Government has allocated RM3bil until the end of the year to finance the subsidy and to maintain the RON95 and diesel retail prices.
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