Lucky it came down this month. From the trend, I was braced for the possibility of the per liter price of RON97 to exceed RM3.00. As of now, RON95 and Diesel prices remain fixed at RM1.90 and RM1.80 per liter respectively.
Unaffected by this development would be the typical Malaysian driver who by now has switched over exclusively to RON95. Owners of high-performance vehicles like the Civic Type-R will be the ones who benefit slightly.
Speaking of fuel, the Government has also banned foreign-registered vehicles from purchasing RON95 or NGV, though this ban does not apply to foreign-registered motorcycles. And the following day, the Government extended the ban, so now, even Malaysians who drive foreign-registered vehicles can no longer purchase the subsidized RON95 (though it's not clear if they can still purchase NGV). While I understand that by banning the sale of RON95 to foreign-registered vehicles, they can still fill up with RON97 to keep on going. What about cars that run exclusively on NGV? I hope that they will not be left high and dry because they are not allowed to refuel once they are in Malaysia!
Locals are also affected, as beginning 1st of June, the Government has withdrawn the super-subsidized diesel enjoyed by commercial lorries and trailers (RM1.45 or RM1.48 per liter, I'm not quite sure). Also, deep sea trawlers no longer enjoy the even lower rate of RM1.25 per liter. All these reductions in fuel subsidies will do well to add to the Government's coffers. I hope that the money will be well spent, and not squandered on some trivial, non-transparent stuff, like tourism promotion and setting up an e-mail account for every citizen.... :)
Well, with the small reduction in RON97 prices (unlikely to affect a significant portion of the population) and with rising fuel costs of commercial transport and deep sea fishing, we'll have to brace for the potential of price increase for related goods and services (not to mention more expensive sea food). Despite strong advice from the Government not to transfer the additional fuel costs downstream to their customers, it's too soon to say if those affected will increase their prices anyway, take advantage of the situation, go on strike, or simply give up the ghost and "close shop" if they really cannot afford to sustain the increased overhead costs.
Sources:-
- RON97 price down by 10 sen (16 June 2011) - http://thestar.com.my/news/story.asp?file=/2011/6/16/nation/8912138&sec=nation
- Diesel super subsidy for commercial lorries abolished (2 June 2011) - http://star-motoring.com/News/2011/Diesel-super-subsidy-for-comercial-lorries-abolish.aspx
- Foreign vehicles to be barred from filling up on RON95 petrol and NGV (14 June 2011) - http://star-motoring.com/News/2011/Foreign-vehicles-barred-from-filling-up-on-RON95-p.aspx
- Govt expands RON95 sales ban (15 June 2011) - http://thestar.com.my/news/story.asp?file=/2011/6/15/nation/8900828&sec=nation
- Re-look diesel subsidy reduction, says MCA (15 June 2011) - http://thestar.com.my/news/story.asp?file=/2011/6/15/nation/8902143&sec=nation
- Transportation charges will go up without diesel subsidy (28 May 2011) - http://thestar.com.my/news/story.asp?file=/2011/5/28/sarawak/8776996&sec=sarawak
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