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
Add BT as a preferred source
[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.
TRENDING NOW
Singapore at 61: How we can ensure opportunity, security and ownership for the next generation
With tech for fact-checking to cancer care, Singapore startups aim beyond home
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Why Asean matters more than ever to the UK and Singapore
