SHAHRIR: FUEL PRICE MAY FALL AGAIN - malaysiakini

JOHOR BARU, Nov 9 — The price of fuel may be further reduced in the middle of November, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said today.

The downward trend of world crude oil prices enabled fuel prices at pump stations to be reduced, he told reporters after attending a corporate social responsibility programme hosted by Malaysian Resources Corporation Berhad at Sekolah Kebangsaan Tebrau Bakar Batu here.

He said that in October, the oil price was initially between US$74 and US$77 per barrel but in the last eight days of the month, it dropped to US$70.

Presently, the average price of oil was at US$70 and the futures market also showed that in December, the price would be below US$70, he added.

The price of RON97 petrol is presently at RM2.15, RON92 petrol at RM2.05 and diesel at RM2.05 per litre after a series of adjustment on Aug 23, Sept 24, Oct 15 and Nov 1.

On the price of fuel for light aircraft, Shahrir said it was not controlled by the government. It had risen from RM6.20 per litre to RM9.53 in Kuala Lumpur and RM9.80 in Langkawi because of a supply shortage, he said.

The fuel was imported from the United States, Australia and Thailand, he explained, and the price was determined by the supplier.

The increase was expected to be temporary and would return to normal soon, he added.
He said the government might look into the possibility of allowing other parties besides Petronas to sell such fuel.

It was reported that flight schools and private aircraft owners were complaining that the fuel price in Malaysia was markedly different from that in Singapore, where it was priced at S$2.61 (RM6) per litre. – Bernama

SHAHRIR: GOVERNMENT TO REMOVE 30 SEN SUBSIDY ON FUEL - malaysiakini

KUALA LUMPUR, Oct 31 - Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad today suggested the government removed the 30 sen subsidy on fuel prices if the pump price goes below RM1.92 a litre.

He said this was based on the declining trend of global crude oil prices which have averaged at US$76.44 per barrel. Shahrir said the subsidy could be utilised for other economic development projects for the betterment of the people.

"The government has spent up to RM16.8 billion just on fuel subsidy and RM2.5 billion on rebates for motorists and motorcyclists. All that means from January to December, we'll be spending about RM19 to RM20 billion," he told reporters after the Umno supreme council meeting.

"If we can save some money on subsidy, that savings will be spent to tackle the issue of economic growth," he said.

Shahrir said there would be a time when fuel price will slide to RM1.92 a litre from RM2.70 per litre set in June.

"And this is going to happen because as we can see, the (downward) trend in the price is happening. So, for November it may be in the range of US$60, below US$70.

"That means the price of petrol at retail level will quite likely go back to RM1.92 if the trend continues," he added. - Bernama

Fuel prices may drop soon, say ministers

By MAZWIN NIK ANIS

PUTRAJAYA: Malaysians may pay less for fuel soon, as the Cabinet is mulling over the possibility of lowering the pump prices.
Several Cabinet Ministers disclosed that the matter was studied during their weekly meeting yesterday but declined to elaborate, saying that Prime Minister Datuk Seri Abdullah Ahmad Badawi was expected to make an announcement soon.
Higher Education Minister Datuk Seri Mohd Khaled Nordin said the possibility of consumers paying less for fuel was discussed and that the mechanics were being worked out.
Information Minister Datuk Shabery Cheek said the matter was studied by the Cabinet, but declined to elaborate.
Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad, when contacted, declined comment, saying that it would be best to wait for Abdullah to make an announcement at an appropriate time. ... more

Sumber: thestar