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KL's move to drop fuel subsidies hailed

Move coincides with low global oil prices, and the govt's savings can be put to good use, say observers

The Malaysian government had announced last Friday that from Dec 1, the retail prices for RON95 petrol and diesel would be fixed according to a managed-float mechanism, similar to that now used for RON97 petrol.

Kuala Lumpur

IN what economist-blogger Hishamrais Hussein described in a post on Monday as "an outbreak of common sense", the Malaysian government has decided to abolish subsidies for RON95 petrol and diesel.

He was referring to Putrajaya's announcement late on Friday that,