Tenfold increase in subsidies to counter crude oil prices


A TOTAL of RM28bil in fuel subsidies will be paid out this year due to a rise in the global price of crude oil, says Deputy Finance Minister I Datuk Mohd Shahar Abdullah.

“Crude oil was at US$85 (RM359) per barrel in January this year, which was higher than the US$55 (RM232) per barrel for the same period last year.

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