Malaysians must be prepared to pay a higher price for RON95 fuel: authorities
The Straits Times
With crude oil prices soaring, Malaysians must be prepared to pay a higher price for subsidised petrol. Read more at straitstimes.com.
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PETALING JAYA - The days of pumping subsidised RON95 at RM1.99 ($0.64) per litre could be over if the Middle East conflict does not resolve within two months.
With crude oil prices soaring, Malaysians must be prepared to pay a higher price even for subsidised petrol, said Petroleum Dealers Association of Malaysia president Khairul Annuar Abdul Aziz.
“If the Strait of Hormuz remains closed after the next two months, the government will likely have to readjust the subsidised price. It would be completely financially unsustainable otherwise.
“Petroleum dealers’ costs will also increase since we have to buy at that new higher subsidised price,” he said.
The association is already making preparations. Mr Khairul said they had already set up possible financing capital packages with banks.
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