BERA: Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said the government cannot guarantee that the prices of petrol, diesel and gas would remain the same if global crude oil prices continue to rise.
Ismail said the government is expected to fork out RM17 billion in oil
subsidy following an increase in the price of crude oil in the global market.
"We cannot assure that the prices will remain the same, including RON 95
petrol, diesel and gas. The prices will be reviewed by a subsidy rationalization
committee every six months. Last year, the subsidy for oil was RM10.3 billion,"
he told reporters after opening the Bera Division's Pemuda, Wanita and Puteri
Umno meetings here today.
He said the price of petrol and diesel would be decided after the
committee's meeting in June.
"If the government continues to bear the additional subsidy, the
government's deficit will increase," he said. -- Bernama
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