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Friday, September 04, 2009

Petrol Price Higher "because of subsidy"

PUTRAJAYA, Sept 2 – The price of petrol had to be adjusted upward “because of an increase in subsidy”, Prime Minister Datuk Seri Najib Tun Razak explained today.

He said the government was committed to a 30 sen subsidy for every litre of petrol sold to the rakyat (people).

“Our promise to the rakyat is a subsidy of 30 sen but the subsidy is currently more than 30 sen. So there has to be a slight adjustment, a minor adjustment," he told reporters after announcing the winner of the 1 Malaysia song competition at Bangunan Putra Perdana, here.

He was asked to comment on the increase in the pump price for RON95 from the RM1.75 announced earlier to RM1.80 per litre while RON 97 is now sold at RM2.05 from RM1.80 previously, both effective since yesterday.

As he was answering the question during the press conference, Najib said he would provide a detailed explanation later. – Bernama

Source: The Malaysian Insider, 4 September 2009.

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