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KUALA LUMPUR:Consumers of RON 97 petrol started paying 10 sen more per litre beginning today, putting its price at RM2.90.
Petrol Dealers Association of Malaysia president Datuk Hashim Othman said the price hike, which was fixed by the Finance Ministry, was inevitable as the price of world crude oil had gone up.
The current world market price is at US$120 (RM360) per barrel.
Although the prices of RON 95 and diesel remain unchanged, Hashim said it would be up to the government to decide if it can afford to continue subsidising the two products.
“As far as the public is concerned, the government is firm in its policy on there being no subsidy for RON 97, which is for high-performance vehicles. So prices are set at market values.”