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Old January 5th, 2007, 11:14 AM   #1
pedang
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PETRO & GAS of Malaysia

No Fuel Price Increase This Year - Nor Mohamed

KUALA LUMPUR, Jan 5 (Bernama) -- There would be no fuel price increase this year, said Second Finance Minister Tan Sri Nor Mohamed Yakcop.

"If you are asking about petrol price increase, the answer is no," he said when asked to comment on rumours about the price increase.

He was speaking to reporters after launching Lexus Malaysia's first 3S (service, sales and spare parts) centre here Friday.

In February last year, the government announced a 30-sen hike in the prices of petrol and diesel to RM1.92 and RM1.58 per litre respectively and the price of liquefied petroleum gas (LPG) to RM1.75 per kg.

The fuel price increase was the largest ever in the country but still kept Malaysia as the second lowest in the region after Brunei in terms of retail fuel prices.

Before that, the last time the prices were increased was on July 31, 2005, when the petrol price went up by 10 sen per litre, diesel price by 20 sen per litre and LPG price by five sen per kg.

-- BERNAMA
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Old January 10th, 2007, 07:24 PM   #2
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Quote:
Originally Posted by pedang View Post
No Fuel Price Increase This Year - Nor Mohamed

KUALA LUMPUR, Jan 5 (Bernama) -- There would be no fuel price increase this year, said Second Finance Minister Tan Sri Nor Mohamed Yakcop.

"If you are asking about petrol price increase, the answer is no," he said when asked to comment on rumours about the price increase.

He was speaking to reporters after launching Lexus Malaysia's first 3S (service, sales and spare parts) centre here Friday.

In February last year, the government announced a 30-sen hike in the prices of petrol and diesel to RM1.92 and RM1.58 per litre respectively and the price of liquefied petroleum gas (LPG) to RM1.75 per kg.

The fuel price increase was the largest ever in the country but still kept Malaysia as the second lowest in the region after Brunei in terms of retail fuel prices.

Before that, the last time the prices were increased was on July 31, 2005, when the petrol price went up by 10 sen per litre, diesel price by 20 sen per litre and LPG price by five sen per kg.

-- BERNAMA

The thing that people are missing out on is that petrol price should be going down not up as petrol price has gone down significantly since the most recent record high that was used to justify the last rise
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Old January 12th, 2007, 10:44 AM   #3
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Surely the gov won't increase the fuel price if not they will lose the rakyat vote in the coming election.Only speculation hehehe.
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Old October 24th, 2014, 11:24 AM   #4
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Published: Friday October 24, 2014 MYT 12:00:00 AM
Updated: Friday October 24, 2014 MYT 12:26:43 PM
No more petrol subsidy for high-income earners

BY LOH FOON FONG




BANGI: High-income earners will have to start paying the market price for RON95 petrol, while those in the low-income bracket will continue to enjoy the current subsidised rate once the petrol subsidy rationalisation mechanism is implemented in June.

The current market rate for RON95 is RM2.58 per litre, while the subsidised price is RM2.30 per litre.

Deputy Finance Minister Datuk Ahmad Maslan said the mechanism, which might involve the use of MyKad or other cards, was still being refined by the Finance and the Domestic Trade, Co-operatives and Consumerism ministries.
http://www.thestar.com.my/News/Natio...ncome-earners/
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Old October 30th, 2014, 05:42 PM   #5
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Quote:
Published: Thursday October 30, 2014 MYT 12:09:00 PM
Updated: Thursday October 30, 2014 MYT 2:32:22 PM
Najib: New RON95 petrol subsidy scheme to take effect mid-2015, diesel earlier

BY MAZWIN NIK ANIS


DUBAI: The new fuel subsidy scheme for RON95 petrol will come into effect mid-2015, while that for diesel will be slightly earlier, said Finance Minister Datuk Seri Najib Tun Razak.

"It is a bit premature (to disclose details) as it is still at a 'request for proposal' stage. We are looking at proposals, which means we will not implement it immediately. As for now, the present system will continue," said Najib, who is also Prime Minister, after attending the 10th World Islamic Economic Forum (WIEF) here on Thursday.

He said the announcement on income-based fuel subsidies made by Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah on Monday was just preliminary.
http://www.thestar.com.my/News/Natio...r-fuel-scheme/
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Old November 21st, 2014, 02:58 PM   #6
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Quote:
Published: Friday November 21, 2014 MYT 2:54:00 PM
Updated: Friday November 21, 2014 MYT 6:41:08 PM
Hasan Malek: No more RON95 petrol, diesel subsidies from Dec 1




PUTRAJAYA: All subsidies for RON95 petrol and diesel will be stopped beginning Dec 1, said Datuk Hasan Malek.

The Domestic Trade, Cooperatives and Consumerism Minister, who announced this at a press conference here on Friday, said the retail prices for RON95 petrol and diesel will be fixed according to a managed float, similar to the mechanism dictating the RON97 petrol price.

Hasan said there would be an announcement at the end of each month to set the following month's fuel prices.

He said it would be determined based on a monthly average price.
http://www.thestar.com.my/News/Natio...subsidy-dec-1/
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Old November 21st, 2014, 03:19 PM   #7
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Quote:
Hasan: Govt not ending petrol subsidy after implementing managed float mechanism on pump price

By Chen Shaua Fui / theedgemarkets.com | November 21, 2014 : 8:48 PM MYT

PUTRJAYA (Nov 21): The prices of RON95 petrol and diesel will be fixed by managed float mechanism effective next month. However, this does not mean that the government will abolish fuel subsidy totally, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek.

When contacted, Hasan told theedgemarkets.com that the government decided to adopt the managed float mechanism as the crude oil prices are low now. However, it will review the decision accordingly when the international crude oil price reverses its downtrend and heads up again.

He reiterated that today's announcement on the implementation of a managed float mechanism on the pump prices of RON95 and diesel does not mean that the government will abolish petrol subsidy altogether from next month.

When asked on the subsidy rationalisation programme, the minister said a study on the mechanism is still ongoing.

"We are in the process of studying it now. There are 28 companies that have come out with different proposals, which would be studied by a panel of experts and the ministry," said Hasan
http://www.theedgemarkets.com/my/art...ism-pump-price
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Old December 19th, 2014, 08:46 AM   #8
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Quote:
Petra Energy to face minimal impact from falling oil price

By Public Investment Bank / Public Investment Bank | December 19, 2014 : 9:58 AM MYT


Petra Energy Bhd
(Dec 18, RM1.67)
Maintain “outperform” with target price (TP) of RM2.40. Petra Energy (PE)’s wholly-owned subsidiary PE Ventures Sdn Bhd (PEV) has announced a proposal to dispose of its entire 51% equity interest in Bumi Subsea Sdn Bhd (BSSB).

The disposal is for a cash consideration of RM430,000, reflecting 312,245 ordinary shares of RM1 each in BSSB. The proposed disposal will allow PE to focus on its existing business, also noting that BSSB has yet to commence business operations and thus do not have any current contracts.

The disposal is expected to be completed by the fourth quarter of financial year 2014 (4QFY14). We do not view this disposal negatively, because we understand the group has taken calculated measures in planning for the growth of their subsea division.
http://www.theedgemarkets.com/my/art...ling-oil-price
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Old December 19th, 2014, 08:56 AM   #9
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Quote:
Price of RON 95, RON 97 expected to drop on Dec 31

In Local News, Malaysian Fuel Prices
By Anthony Lim / 19 December 2014 1:26 pm
2013_Toyota_Vios_fuel_test 001

According to reports, the at-the-pump price of RON 95 and RON 97 petrol as well as diesel is expected to be lowered at the end of the year. Deputy finance minister Datuk Ahmad Maslan said the new prices are due to be announced on Dec 31.

In an earlier report, Maslan had indicated that prices of petrol and diesel fuels may continue to drop until January. Average weekly global oil prices had been dropping up to the first week of December. “According to the trend this week, RON 95 will fall further, RON 97 will fall further, and diesel may fall further from RM2.23 per litre at present,” he said then.
Read more: http://paultan.org/2014/12/19/price-...#ixzz3MKAyeZFu
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