New Petrol Price Hike RON97: RM2.70, RON95: RM2.62, Diesel: RM2.58; TNB Electric to Increase Tariff
NST, The Star, Malaysia Kini has confirmed the petrol price hike today at 5PM. The price hike will begin at 12AM 5th June 2008.
The new petrol price for:
- RON97 is RM2.70 per litre
- RON95 is RM2.62 per litre
- Diesel is RM2.58 per litre
Subsidy/rebates for privately owned vehicles: (from Astro Awani)
- [4 wheels] Under 2000cc for cars & under 2500cc for pickup trucks and jeeps: RM625/year
- [4 wheels] Above 2000cc: RM200/year
- [2 wheels] Under 250cc: RM150/year
- [2 wheels] Under 250cc: RM50/year
Subsidy will come in the form of road tax reduction via Money Order. Read news excerpt below for more details.
On another news:
Tenaga Nasional Bhd would be raising electricity rates by 18% for homes and 26% for business users. Read here for the new tariffs.
Official news release from the Prime Minister’s Office.
News excerpt from NST:
BREAKING NEWS:Petrol will be RM2.70 a litre at midnight tonight
The new price of premium leaded petrol (ULG 97) is RM2.70 per litre beginning midnight tonight, it was announced a moment ago. The price for ULG 92 petrol per litre went up by 74 sen. Diesel will go up by RM1 per litre. The 78 sen hike or 40 per cent increase for the ULG 97 petrol is still below the antiticpated RM4 per litre price projected earlier and among the cheapest in Asia.
UPDATE:
The new price of premium leaded petrol (ULG 97) is RM2.70 per litre beginning midnight tonight, it was announced a moment ago. The price for ULG 92 petrol per litre went up by 74 sen to RM2.62. Diesel will go up by RM1 per litre to RM2.58. The 78 sen hike or 40 per cent increase for the ULG 97 petrol is still below the antiticpated RM4 per litre price projected earlier and among the cheapest in Asia. The announcement was made by Prime Minister Datuk Seri Abdullah Ahmad Badawi at a news conference.
Abdullah also announced a new tariff structure for electricity supply in Peninsula Malaysia beginning July 1.
News excerpt from MalaysiaKini:
Jun 4, 08 4:55pm
The fuel price will see an increment of 78 sen by August – a massive jump from the present RM1.92 per litre to RM2.70, Prime Minister Abdullah Ahmad Badawi is expected to announce today.The increment is part of the government measure to cut the spiralling bill for its extensive petrol, diesel and gas subsidies, which is expected to cost RM56 billion this year.
The government also announced that to off-set the fuel increment, the government would offer rebates to motorists
Under the scheme, vehicles below 2000cc will receive a RM625 rebate annually – to compensate for 800 litres of fuel used under the new price.
Motorcycles will be given a rebate of RM120. The money will be paid through postal order.
News excerpt from The Star:
KUALA LUMPUR: Prime Minister Datuk Seri Abdullah Ahmad Badawi on Wednesday announced the new price for petrol is RM2.70 a litre, effective midnight tonight.
He announced that the price of petrol would be increased by 78sen and diesel by RM1.
The 40% increase in petrol price is part of the new fuel subsidy plan he announced at 5pm Wednesday.
The price of diesel goes up to RM2.58 from RM1.58.
UPDATE:
KUALA LUMPUR: Prime Minister Datuk Seri Abdullah Ahmad Badawi on Wednesday announced price hikes for petrol, diesel and electricity.
He said the new price for petrol is RM2.70 a litre, effective midnight tonight. The price goes up by 78sen from the current RM1.92, a hike of 40%.
Abdullah also announced that the price of diesel would be increased by RM1 from RM1.58 to RM2.58.
He also said that Tenaga Nasional Bhd would be raising electricity rates by 18% for homes and 26% for business users.
The announcements are part of the new fuel subsidy plan.
Abdullah also announced a RM625 annual cash rebate per vehicle, for owners of private vehicles with engine capacities of up to 2,000cc, as well as pickup trucks and jeeps with engine capacities of up to 2,500cc.
Owners of private motorcycles with engine capacities of up to 250cc will receive RM150.
Payment will be made via Money Order upon renewal of road tax, from July 1.
For owners of private vehicles with engine capacities exceeding 2000cc, road tax will be reduced by RM200.
Owners of private motorcycles with engine capacities above 250 cc will get RM50 reduction in road tax.
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After getting know the rm625 rebate, it sounds more better. At least better than nothing. Thinking about Rm4 per liter for full price. Talking about Rm625 rebate meaning Rm625 divide by Rm0.78 which is equal to 800 liter of petrol.
Assume you take 40 liter of petrol per week, you’re a able to survive for current situation for 20 weeks. Means the 78 cents increment is only for the another 32 weeks. Sounds not so die for me…
June 4th, 2008 at 6:36 pmdear msia government, if u r going to keep on increasing petrol price, pls improve our public transport n services
June 4th, 2008 at 7:07 pmor else i’m gonna ride bicycle to coll everyday.. LOL
The bad news about petrol price increase and TNB price hike is not the only ones. Come July 1st, more bad news! Credit card holders who don’t pay in full will lose their 20-day interest free period. Life is gonna be real tough for Malaysians in the next few months.
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June 5th, 2008 at 2:03 pm