Monday, May 31, 2010

Malaysian petrol prices could go up

Malaysia government could increase the petrol price this year according to Malaysiakini. The initial price increase will be 15 cents per liter and implemented this year under plans presented by a body advising the government on how to cut subsidies. Besides petrol, Toll, Gas and Electricity bill might be increase a well.

If everything goes through, the price of petrol would be hiked some time this year followed by two price hikes totally 20 cents per liter in 2011 and two more of 20 cents per liter in 2012.

In 2013-2015, there will be slow price hikes and by the end of 2015, the price of RON95 would stand at RM2.60 per liter, but the proposal has yet to be approved by the government, so there's no telling whether or not the proposal will be accepted.

Petrol prices to be increased 15 sen in June-Dec 2010, then 10 sen hikes every six months between Jan 2011-Dec 2012 and by a lesser amount in following years.

Petrol prices seen at

2011 - RM2.16
2012 - RM2.20
2013 - RM2.34
2014 - RM2.52
2015 - RM2.60

Renegotiation with PLUS highways in 2010 and with LDP Highways by 2013. Propose that all concession agreements would proceed without subsidies, resulting in a toll hike of between 10-67 percent for 2010.

Gas price is increased by a fixed rate of RM3/MMBTU every six months from initial increase for power sector and non-power
sector. Gas price increase of RM3/MMBTU every six months corresponds to an increase in electricity tariff of 1.6 sen/kWh every six months.

Electricity tariff for lifeline consumers (in 2010, less than 200 kWh) would not be increased. About 56 percent of households will not be affected in 2010. Consumers with a monthly bill of 20 ringgit and below will continue to get free electricity until Dec 2010.

If the petrol price will be increase, this will definitely affect all the car enthusiasts especially those only have their modded car as daily driving horse.