In Local News, Malaysian Fuel Prices / By Gerard Lye / 31 October 2017 2:55 pm / 33 comments

According to a report by The Malay Mail, the Malaysian government is still paying millions of ringgit every month for fuel subsidies. Tan Sri Mohd Irwan Serigar Abdullah, secretary-general of the Treasury, revealed this during a post-Budget 2018 dialogue.

“Although we went through (a change in) fuel price mechanism, the government still subsidises (fuel prices) sometimes. In certain periods if it goes up, we subsidise a bit,” Irwan said.

“We still subsidise a few hundred million (ringgit) a month, but I don’t know what will happen in the future. Formerly, we subsidised RM22 billion, after rationalising, around hundreds of million,” he added.

Prior to the complete removal of fuel subsidies in 2014 (beginning with RON 97), prime minister Datuk Seri Najib Tun Razak had stated the government spent RM29 billion to subsidise RON95, RON97 and diesel fuel in 2013.