Tun M: Fuel Prices To Remain. We Will Subsidise If Necessary

The previous government had set the fuel prices on a weekly basis.

Cover image via The Malay Mail

Prime Minister Tun Dr Mahathir said in a press conference earlier today, 16 May, that the current fuel retail price will not change

Image via Wanista

"No longer up and down, the present (market) rate will stay. The government will subsidise if there are insufficiencies," he said as quoted by Malaysiakini

For the past seven weeks, the price of RON95 remained at RM2.20 per litre, RON97 at RM2.47 per liter, Diesel at RM2.18 per litre, and Euro 5 Diesel at RM2.28 per litre

Image via Hype

The previous government helmed by Barisan Nasional (BN) had adjusted the fuel prices on a weekly basis, as calculated based on regional benchmark prices. The fuel system was implemented on 30 March last year. 

You can watch bits of the interview here:

Mahathir talks about fuel prices from 1:04 onwards.

The controversial Goods and Services Tax (GST) will be zero-rated starting June 2018:

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