Gas Malaysia to raise gas price by 2.3% from Nov 1

[KUALA LUMPUR] Gas Malaysia Bhd, the country's sole supplier of natural gas except to the power sector, said the average natural gas price in peninsular Malaysia would increase by about 2.3 per cent from Nov. 1.

The tariff adjustment, which comes six months after the last revision, follows a rise of 20 sen a litre in petrol and diesel prices earlier this month as part of a government plan to cut subsidies and reduce its budget deficit.

The gas tariff in peninsular Malaysia will increase to an average of RM19.77 (US$6) per million British thermal units (mmBtu) from RM19.32 mmBtu, Gas Malaysia said in stock exchange filing on Wednesday.

The gas price hike is not applicable to liquefied petroleum gas. The tariff for residential consumers remain unchanged, according to Gas Malaysia.

The price Gas Malaysia pays to buy gas from state oil firm Petroliam Nasional Bhd, which supplies the power sector directly, will be adjusted upwards accordingly, it added.

REUTERS