Malaysian Fuel Price Hikes, Food Price Drops
Malasyian suffers their greatest rise in fuel price as the Government announced the new fuel price recently. Diesel experiences the greatest hike in its price which is RM 1 per liter. While petrol price rises about RM 0.8 per liter. The decision follow the government decision to stop the selling of fuel to neighbouring countries such as Thailand and Singapore which involves fuel stations near to countries borders. However the decision was cancelled due to several aspects and profit purposes.
What happen to the fuel subsidy? The Government decided to use part of the subsidy to subsidise food. Food price has been rising due to the global food crisis. Hence this decision was to ensure the poors would not be affected by the rising food price. About 42 billion ringgit is used to subsidise food in Malaysia. The new food price is expected to drop due to the decision. However the Government is trying their best to curb the rise in daily item to reduce the people's burden.
Malasyian suffers their greatest rise in fuel price as the Government announced the new fuel price recently. Diesel experiences the greatest hike in its price which is RM 1 per liter. While petrol price rises about RM 0.8 per liter. The decision follow the government decision to stop the selling of fuel to neighbouring countries such as Thailand and Singapore which involves fuel stations near to countries borders. However the decision was cancelled due to several aspects and profit purposes.
What happen to the fuel subsidy? The Government decided to use part of the subsidy to subsidise food. Food price has been rising due to the global food crisis. Hence this decision was to ensure the poors would not be affected by the rising food price. About 42 billion ringgit is used to subsidise food in Malaysia. The new food price is expected to drop due to the decision. However the Government is trying their best to curb the rise in daily item to reduce the people's burden.
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