As Malaysia’s diesel subsidy cuts squeeze businesses, all eyes on next target – RON95 petrol
Economists expect limited inflation from diesel price hike but foresee significant price pressures if RON95 subsidy is removed
[KUALA LUMPUR] Snaking queues were spotted at several fuel stations in Terengganu, Malaysia’s eastern state, last Sunday evening (Jun 9) as vehicle owners scrambled to get the last pump of “cheap” diesel.
As Malaysia ended diesel subsidies effective Jun 10, resulting in fuel prices rising by more than half to market rates, it is likely that fuel stations across other states also experienced a similar rush.
KT Tan, a semi-retired wood panel trader, dashed to the nearest kiosk in Kuala Terengganu, the state capital, as soon as he heard the news on social media, eager to get a final full tank at RM2.15 (S$0.62) per litre.
Copyright SPH Media. All rights reserved.
