Govt Maintains Fuel Subsidies To Cushion Impact Of Rising Global Oil Prices

KUALA LUMPUR, March 29 (Bernama) -- The government has reaffirmed its commitment to safeguarding the people and ensuring the stability of commodity prices despite rising global oil prices following the conflict in West Asia.

In a Facebook post today, the Ministry of Finance (MOF) said the government is continuing its efforts through the Subsidised Petrol Control System (SKPS) and the Subsidised Diesel Control System (SKDS), which provide targeted fuel subsidies for the land and water public transport sectors, as well as for the transportation of selected goods.

“These measures help keep transportation costs under control and ensure that commodity prices remain stable,” the ministry said.

According to the infographic shared, the retail price of subsidised petrol under SKPS for public transport and goods transportation has been maintained at RM2.05 per litre.

Meanwhile, under SKDS, the subsidised diesel price for the land transport sector remains at RM1.88 per litre, while diesel for goods transportation continues to be capped at RM2.15 per litre.

The ministry added that the government will continue to closely monitor global developments and adopt a prudent approach to protect the well-being of the rakyat.

-- BERNAMA