The government has no plan yet to raise petrol and diesel prices despite global crude oil prices going over US$100 (RM304.45) a barrel due to Egypt turmoil.Domestic Trade, Cooperative and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said the Cabinet had not discussed the fuel price hike.
“The government does not raise fuel prices at its whim and fancy as a thorough study had to be conducted first before a decision is made,” he told reporters at the Bera parliamentary constituency’s Chinese New Year open house in Triang near here today.
Ismail Sabri, who is also MP for Bera, said based on prevailing situation, crude oil prices would continue to escalate, thereby putting undue pressure on government subsidies.
“Egypt turmoil pushes crude oil price over US$100 a barrel as Egypt is also an oil producer, thus affecting the world’s oil production,” he added.
He said the government provided subsidies amounting to RM6.3 billion for petrol and diesel last year. — Bernama