Petrol price to remain for next two months

SHAH ALAM: Petrol price is likely to remain at RM2.70 per litre for the next two months.

Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said the Government was monitoring the fuel price on a daily basis.

“We should allow the subsidy scheme to work. We haven’t gone into monitoring the fuel price on a monthly basis. I have confidence that it’s not going to go up,” he told reporters Friday after attending the Umno retreat for supreme council members here.

“The most important thing is that the Government has no intention of reducing fuel subsidy any further and most likely the price will remain at RM2.70 per litre.”

He was asked to comment on whether consumers could expect another petrol hike within the next two months.

Asked about the rise in the price of sugar, he explained that the increase had nothing to do with the fuel hike.

“This could be due to the supply problem caused by panic buying. The situation will return to normal. We must realise that the sugar price increase is not related to fuel increase.”

He said sugar was a controlled item, which came under the Price Control Act, and the price could stabilise in due time.

The retail price of one kilogramme of sugar is expected to increase by 20sen next year following its price increase in the global market for the past two years.

Currently, sugar is sold at RM1.45 per kg in Peninsular Malaysia and RM1.55 per kg in Sabah and Sarawak.