Local fuel: The price of Malaysia’s RON95 makes it most affordable among nine of the Asean member countries listed. — Filepic/The Star
THE Consumers Association of Penang (CAP) welcomes the government’s announcement of a plan to implement targeted fuel subsidy for those in the Below 40 (B40) group. We urge the government to speed up the implementation because the war in Ukraine is not likely to end soon and on the contrary to what some consumers may think, the subsidy comes from taxpayers. It is, therefore, not advantageous to Malaysia or the people.
In fact, the war in Ukraine is a wake-up call for Malaysia. It resulted in Brent crude oil index exceeding US$130 (RM567) per barrel in early March, its highest in 14 years. Till now the price is still above US$100 (RM438) per barrel.
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