Friday, December 3, 2010

Fuel, diesel, gas and sugar prices up

The government has increased the prices of RON95 grade of petrol, diesel, liquified petroleum gas and sugar.

Sugar will go up by 20 sen a kilo while RON95 petrol, diesel and liquified petroleum gas (LPG) all go up by five sen a litre.

The new prices are:
  • RON 95 grade petrol - from RM1.85 to RM1.90 a litre;
  • Diesel - from RM1.75 to RM1.80 a litre;
  • White refined coarse granulated sugar - from RM1.90 to RM2.10 a kilo; and
  • Liquified petroluem gas - from RM1.85 to RM1.90 a kilo.
The new prices are effective from 12 midnight. This was revealed at a special briefing for editors in Putrajaya by the Performance and Delivery Unit (Pemandu).

azlanHowever, Malaysiakini, which was invited to the briefing, was barred from entering the Implementation Coordination Unit headquarters at the Prime Minister's Office.
An official announcement from the Prime Minsiter's Office on the price increase is expected at 8 tonight.
Third sugar price hike
This is the third time sugar prices have been raised this year. It was hiked by 20 sen on Jan 1 and again by 20 sen on July 15.

On July 15, Prime Minister Najib Abdul Razak also announced the RM0.05 increase for diesel, RON 95 and RON 97 petrol.

azlanThe price of RON 97 petrol is now determined by a managed float and has gone up twice since July 15. The latest price announced on Dec 1 was RM2.30 per litre.

On May 27, Pemandu unveiled its proposals for the government to undergo a “subsidy rationalisation”.

Pemandu, a unit established under the Prime Minister's Department, had warned that the Malaysia may face bankruptcy by 2019 should subsidies not be reduced.

Idris Jala, Pemandu's chief executive officer, said that Malaysia risks becoming like Greece, which is now debt-ridden if it does not shed subsidies.

However, critics are concerned that the majority of the public will suffer due to inflation coupled with stagnating wages while the government continues on its spend thrift ways.

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