Government Still Providing Fuel Subsidy
The government is still providing fuel subsidy to fleet card holders like lorry and bus operators as well as fishermen, Deputy Finance Minister Datuk Kong Cho Ha said Wednesday.
Kong said the government was using the automatic pricing mechanism to determine the retail prices of petrol and diesel, based on the global crude oil prices.
He said this in reply to a question from Dr Haji Dzulkefly Ahmad (PAS-Kuala Selangor) in the Dewan Rakyat Wednesday concerning the retail prices of petrol and diesel which have been lowered by the government following the drop in the world crude oil prices.
In early 2008, the crude oil prices were on the rise, going up to US$140 per barrel in the middle of this year.
Kong said in August this year, the world crude oil prices declined and the downtrend was continuing.
“In line with the downtrend, the government has from time to time reviewed and reduced the retail prices of petrol and diesel,” he said, adding that the prices had been lowered four times over the past two months.
source : BERNAMA