Petrol and Diesel Up 30 Sen Per Litre (Hl)
Posted on: Tuesday, 28 February 2006, 15:00 CST
By Arman Ahmad; Shamini Darshni
KUALA LUMPUR, Mon. - The price of petrol and diesel will go up by 30 sen per litre tomorrow - the highest-ever single hike in the price of fuel.
The price of liquefied petroleum gas will go up by 30 sen per kilogramme.
The last increase was on July 31 last year, when the Government increased the price of petrol by 10 sen, diesel by 20 sen and LPG by five sen per kg.
But there is also good news: The Government has assured that there will be no fuel price hike for the rest of the year.
A Press statement from the Prime Minister's Department announcing the price increase said that the money saved in petrol subsidies would be used to improve public transportation and for development projects.
According to the statement, the new rate for unleaded or RON 97 petrol in peninsular Malaysia is RM1.92 per litre, while leaded petrol or RON 92 will be sold for RM1.88 per litre.
The price of diesel will be RM1.58 per litre, while LPG will cost RM1.75 per kg.
In Sabah, RON 97 will be sold at RM1.90, RON 92 at RM1.88 and diesel at RM1.58. LPG will cost RM1.83 per kg.
In Sarawak, RON 97 will be sold at RM1.91, RON 92 at RM1.88 and diesel at RM1.58 per litre. LPG will cost RM1.83 per kilo.
The price hike is not totally unexpected. The Government had hinted at a possible increase if world oil prices kept spiralling.
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The statement said the increase was inevitable - given that for 2005 the amount in subsidy paid out by the Government was RM7.41 billion, while tax exemption totalled RM7.85 billion.
The subsidies and tax exemption burden for last month and this month amounted to RM1.19 billion and RM1.44 billion respectively.
As a comparison, without subsidies, the price of RON 97 petrol would cost RM2.46 in peninsular Malaysia, and RM2.45 in Sabah and Sarawak, while RON 92 would cost RM2.37 in the peninsula and RM2.36 in Sabah and Sarawak.
Similarly, diesel would cost RM1.98 in peninsular Malaysia and RM1.97 in Sabah and Sarawak. LPG would cost RM3.21 in the peninsula, RM3.35 in Sabah and RM3.34 in Sarawak.
To ease the burden on certain sectors, the statement said, a subsidised system would be introduced for 84 per cent of diesel- powered vehicles on land, including those in public transport and commercial services.
Using a fleet card, operators will be able to buy diesel at pumps for 15 sen less.
The price of oil has been going up aggressively over the last few years. The price per barrel of oil is now over US$60 (RM222.80)
Source: New Straits Times
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