KUALA LUMPUR: Malaysia will lower the price of the widely used RON95 transport fuel for its citizens, Prime Minister Anwar Ibrahim said on Monday (Sep 22), as the government pushes ahead with a long-awaited plan to adjust fuel subsidies and provide cost-of-living relief.
The price of subsidised RON95 fuel will be reduced to RM1.99 (US$0.47) per litre from RM2.05 per litre, effective Sep 30, Anwar said at a regular briefing at the Prime Minister’s Department.
The new subsidised fuel price will only be available for Malaysians with a valid driver’s license, with non-citizens expected to pay RM2.60 at the pump, Anwar said. The government will also cap subsidised fuel purchases at 300 litres per month per person, with exceptions to be made for ride-hailing drivers, Anwar said.
Any savings from the subsidy changes will be channelled towards improving public infrastructure and aid for the needy, he said.
The changes were announced in July, although they did not go as far as initial plans to also remove RON95 subsidies for the wealthy.
Anwar’s administration has taken a number of measures to boost revenue and productivity, including a minimum wage hike, increased electricity tariffs on heavy power users and an expanded sales and services tax.
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