I am not sure if the price of gasoline is higher or lower as compared to that of other countries but from Tuesday, the newly introduced RON 95 fuel will be priced at RM1.80 - five sen higher than the previous RM1.75.
Meanwhile, RON 97 is upgraded as a premium product and has gone up to RM2.05 from RM1.80.
Although the price is now 5 sen higher, the Government is still subsidising 33.81 sen per litre (of RON 95) which is equivalent to RM304mil monthly while for RON97, the Government is subsidising 42.72 sen per litre.
The cost for RON 95 went up 102% from USD$ 40.75 per barrel to USD$ 82.30 in December last year and August respectively. Future gas prices will be adjusted accordingly in tandem with changes in global prices
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