By Zuhrin Azam Ahmad
PUTRAJAYA, Malaysia - The pump price of RON95 will remain at RM1.90 (S$0.78) per litre despite the Government having to increase its subsidy by 10 sen.
Domestic Trade, Cooperative and Consumerism Minister Datuk Seri Ismail Sabri Yaakob, who announced this yesterday, said the subsidy was now RM1.03 per litre, up from 93 sen, due to the global oil price rise.
"The Government increased the subsidy to ensure that the people are not burdened by the effects of the rise in oil prices.
"If the upward trend continues, we may have to adjust the subsidy accordingly," he said after addressing the ministry's monthly gathering here yesterday.
Prime Minister Datuk Seri Najib Tun Razak had pledged last month to maintain the price of the more widely used RON95 in the near future despite soaring global prices.
Under the subsidy programme for Budget 2012, RM17 billion was allocated for petroleum products.
Ismail Sabri said the petrol subsidy bill could go up further if global prices continued to increase.
He, however, assured that the Government would do its best to keep the cost of living "bearable".
"We know that the slightest increase in the price of RON95 and diesel would have repercussions on the people's expenses," he added.