There will be two price strucutures for petrol from May 1 - one for Malaysians and another for foreigners - Domestic Trade and Consumer Affairs Minister Datuk Seri Ismail Sabri Yaakob said on Thursday.
For Malaysians, the price of petrol will also be based on engine capacity, which means that not all would be entitled to subsidised fuel, he added.
“Not all Malaysians will get the fuel subsidy, which should by right be given to those earning less,” he said.
Ismail said those eligible for the fuel subsidy would be able to buy fuel based on the current prices while those who are not eligible for it, will have to pay the market price.
“For RON95 petrol, the Goverment’s subsidy is 30sen per litre now. The current price of RON95 petrol is RM1.80 compared to the actual price, which is RM2.10.
“So, Malaysians who are not eligible for the subsidy and also non-citizens will have to pay RM2.10 or more,” he added.
Ismail said further details on the new fuel price mechanism would be announced on May 1.
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