The Malaysian government will maintain the Budi Madani RON 95 (Budi95) quota at its present amount of 200 litres per month – which the finance ministry said was temporarily adjusted down from its original 300 litre monthly quota – amid the global supply crisis, said the finance ministry political secretary Muhammad Kamil Abdul Munim, reported Bernama.
All decisions on the matter will be discussed at weekly meetings of the national economic action council, basd on current needs and the nation’s economic capacity, he said.
“We have to look at the broader situation, including oil supply. So far, conditions remain under control and the government is monitoring developments. We have also diversified our oil sources and are not solely dependent on supplies from Middle Eastern countries,” Muhammad Kamil said.
The Budi95 quota was adjusted from 300 litres to 200 litres on March 26 this year as the price of subsidised RON 95 petrol in Malaysia remained at RM1.99 per litre, and prime minister Datuk Seri Anwar Ibrahim, who is also finance minister said that 90% of RON 95 petrol users will not be affected by the reduced quota.
The Malaysian government is continuing its efforts to sustain fuel subsidies at the current price, despite a suggestion from the World Bank to revise the price of subsidised RON 95 petrol from its current RM1.99 per litre to RM2.05 per litre, Muhammad Kamil said.
As of April 23, unsubsidised RON 95 petrol is priced at RM3.87, while RON 97 petrol is priced at RM4.85 per litre. As for the retail prices of diesel fuels, Euro 5 B10 and B20 grades are priced at RM5.12 per litre, while the Euro 5 B7 grade is priced at RM5.32 per litre, while the retail price of diesel fuels in Sabah, Sarawak and Labuan stays unchanged at RM2.15 per litre.
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syukur beli xiaopeng, no need to beg for subsidy
wait till TnB raises eletric tariffs then we will see all EV owners crying and begging.
ever since PH took over , starting 2024 the ringgit has been appreciating, bursa stock market skyrocketing , Budi95 petrol cheapest in the world , and our per-capita car sales in 8x yes Eight Times more than neighbour indonesia because cars here are cheap and buying power is strong.
BN brought the nation to the brink of ruin with their deluded wawasan2020 and eternal bailouts and protectionism of Proton. but luckily PH took over in time and now the future looks bright (disregard the Iran war which is not something that malaysia has control over)
I don’t understand the reason why most economists and commentators always pick on the subsidies given to the ordinary people to be slash!! They always says it is not substantiable or it distort the economy leading to inefficiency. Those are true
But they ignore the positive benefits like social-economic stability it gives to the country.
Only a few wise ones notice that.
Please think out of the box. Don’t keep harping on the same issues as it does not “sell” anymore.
Please make some proposals on how we can maintain the BUDI95 and yet have sufficient money for other development – I think only the BEST economist can come up with a proposal. The rest will keep talking like a broken record
giving subsidy directly to the people, its a lot better than keeping that money and then wasting it to cronies and corruption. and for that reason alone, subsidies should stay.