PUTRAJAYA, June 11 (Bernama) -- The prices of petrol and diesel will not be raised any more this year so as to ease the burden on the people, Datuk Seri Abdullah Ahmad Badawi said Wednesday.
The prime minister said this decision was made though the global oil price was expected to soar in the coming months.
The current prices of fuel would be maintained even if the global oil price reaches US$200 a barrel this year, he told a news conference at his office here.
Abdullah said the government had not set a ceiling for the global oil price in the future in deciding to keep to its assurance on retaining the current fuel prices for this year.
He said the government was aware that the people were striving to adjust to the current situation of high fuel prices.
Last Wednesday, the government announced an increase of 78 sen or 41 per cent in the price of petrol, from RM1.92 to RM2.70 per litre, and an increase of RM1 or 63 per cent in the price of diesel, from RM1.58 to RM2.58 per litre. The prices took effect on Thursday.
These are pump prices, and the government is still subsidising petrol at 30 sen per litre, otherwise the market price of petrol in the country will be RM3.
Abdullah said the current high price of crude oil meant that the market price of petrol had gone up to RM3.45 per litre.
"If the government maintains the 30 sen per litre subsidy, the price of petrol would have to be raised from RM2.70 to RM3.15 per litre in July," he said.
However, this would not happen following the government's announcement on the maintaining of the fuel prices after a decision was taken at Wednesday's Cabinet meeting.
Asked whether the government's decision would affect its revenue, the prime minister said the government hoped to garner more revenue from Petronas, the national oil corporation.
Replying to another question, Abdullah said the current fuel prices could be reduced if the price of oil in the global market dropped in the future.
-- BERNAMA
hopefully this will be a true news. really true.
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