A02. Stabilise the price of petrol

[IMPORTANT NOTE] Promise to provide targeted petrol subsidies will be tracked under Promise B07

The Harapan Tracker June 13, 2018

Promise (previously stated as): Stabilise the price of petrol and introduce targeted petrol subsidies. As the promise to provide targeted petrol subsidies was mentioned twice in the Pakatan Harapan manifesto -- first in page 12 of the Pakatan Harapan manifesto under the "10 promises in 100 days" section and second time in page 27 as Promise 7, we at The Harapan Tracker have decided to break this promise down into two parts: A02. Stabilise the price of petrol [Achieved] B07. Provide targeted petrol subsidies [In-progress] This is to ensure a more targeted tracking. As the promise to provide targeted petrol subsidies is mentioned under the "10 promises in 100 days", we will ensure to report its status as part of promise A02 at the end of Day 100 for accuracy.

PROMISE UPDATE

Putrajaya allocates RM3b subsidy for RON95, diesel for 2018, says Guan Eng

The Edge Markets June 07, 2018

KUALA LUMPUR (June 7): The federal government has allocated RM3 billion to subsidise fuel prices for 2018, while maintaining the retail price of RON95 and diesel for the rest of the year, said Finance Minister Lim Guan Eng. The government has fixed the RON95 retail price at RM2.20 per litre while the diesel retail price has been set at RM2.18 per litre, he said in a statement today. The price of RON97 will be floated on a weekly basis. It costs RM2.66 per litre from today until June 13. "The government will subsidise 33 sen per litre for all retail purchases of RON95 and diesel for this week. Without the subsidy, the price of RON95 and diesel would rise to RM2.53 and RM2.51 per litre, respectively. "Global crude oil prices have reached US$76 per barrel and refined petrol and diesel products are currently priced between US$87 and US$88 per barrel," he added.

Update: Price of diesel, RON95 & RON97

Postponed: Petrol subsidies for cars under 1,300cc and motorcycles under 125cc

The Sun Daily June 02, 2018

The delay in the implementation of five Pakatan Harapan (PH) pledges protects the integrity of the budget deficit and contain it to the target of 2.8% of GDP. Asli Centre of Public Policy Studies Chairperson, Tan Sri Ramon Navaratnam, said the budget should be implemented in a pragmatic manner to reflect current economic and financial realities, which includes the new zero-rated Goods and Services Tax that reduced budget revenue. "Debt management will improve considerably with the postponement of these five pledges. "The estimated RM1 trillion debt will now be more manageable by international financial standards, including the World Bank and the International Monetary Fund," he told Bernama. On Thursday, the PH government decided to postpone the implementation of five of the initiatives contained in its '10 Promises in 100 Days' election manifesto until the country's financial situation recovers. These included petrol subsidies for cars under 1,300cc and motorcycles under 125cc.

RON95 and diesel price to stay, RON97 will be floated — PM

The Edge May 30, 2018

The government will retain the current price of RON95 and diesel at the pumps, but the price of the premium RON97 petrol will be subject to a float system, Prime Minister Tun Dr Mahathir Mohamad said today.

"The price for diesel and RON95 will be maintained, but the price for RON97 will be floated according to the market," Dr Mahathir told reporters after chairing the second weekly Cabinet meeting here today. At present, RON95 and diesel are sold at RM2.20 per litre and RM2.18 per litre respectively, while that of RON97 is priced at RM2.47 per litre. The retail fuel prices have remained unchanged ahead of the 14th general election on May 9, despite crude oil prices rising to US$75.39 per barrel at the time of writing.

LATEST PETROL PRICE IN MALAYSIA

Petrol Price Malaysia May 24, 2018

Provide targeted petrol subsidies

Pakatan Harapan May 10, 2018

Increase in petrol prices have a significant impact in cost of living, for example, when it comes to the cost of travel to go to work. The worst impact is on the B40 and lower M40 groups. The Pakatan Harapan Government will provide targeted petrol subsidies at a suitable monthly rate to those who qualify. This will be targeted to those who use motorcycle below 125 cc and car below 1300 cc. A quota will be devised to prevent abuse.

Today, there are technologies that will allow our identity cards to be used at petrol pump kiosks. We will devise a mechanism that will enable the targeted subsidy to be allocated using data on the identity cards. This will ensure only those who qualify will be able to access it.

Nevertheless, in giving this targeted subsidy, the Pakatan Harapan Government will always be cognisant of the need to reduce the number of private vehicles on roads to the extent that the environment is not damaged. The Pakatan Harapan Government will remain committed to increasing and improving economically sustainable public transportation so that owning private vehicles no longer become a burdening need of the people.