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KL scraps decades-old fuel subsidy policy

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Published Fri, Nov 21, 2014 · 09:50 PM

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    Kuala Lumpur

    MALAYSIA will abolish subsidies for petrol and diesel starting next month as falling oil prices provide Prime Minister Najib Razak the opportunity to end a decades-old policy of cheap fuel.

    The cost of the widely used RON 95 grade of petrol and diesel will be based on a managed float system from Dec 1, the government said in a statement on Friday. The ringgit rose.

    Malaysia

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