No More Fuel Price Hike This Year, Says PM - Bernama

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.

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