If RON95 price goes up in June, government saves up to RM4 billion – kopiandproperty.com
In the news: If RON95 price goes up in June, government saves up to RM4 billion
It’s inevitable yeah. When price is just too low, the subsidy may just benefit the ‘richer’ foreigner
Whether from the south or the north of Malaysia, any driver from these two countries driving their car into Malaysia will do their very best to pump some petrol because every litre is a huge savings back at their own home.
Why so much savings? Well, it’s because of subsidy. Who should benefit from this subsidy for RON95? Malaysians lah… Surely not fore foreigners and if over 10 billion ringgit is used for this every year, then we should realise that it’s a big thing if we are also to subsidise all these supposedly richer people. Or maybe they are rich only when in Malaysia?
Latest News from Malaysia’s famous car blog
Article in paultan.org Citigroup’s chief Malaysian economist Wei Zheng Kit said this week that Malaysia’s fiscal spending in the first five months of 2024 reached 53.9% of the full-year target, surpassing the year-to-date spending levels of previous years. And to meet the country’s deficit target, things need to be done.
As such, fuel subsidy rationalisation for RON 95 petrol might happen as soon as this month, he told Bloomberg.
Citi estimates that the government can save an additional RM3 billion to RM4 billion this year if a 30 sen per litre increase for RON 95 is implemented this month, taking the pump price to RM2.35 per litre. This assumes a gradual increase to market price, and not a big overnight jump. Do refer here for the full article: Article in paultan.org
Who knows, maybe by 2030 everyone’s driving an EV?
It is said that next year, both Proton and Perodua will be launching their EVs. In other words, prices should be adjusting lower due to this and we may just be able to buy an EV for a typical price of a ICE (internal combustion engine) car.
Currently, the lowest price for an EV is RM100,000 and the few models at this price point are not really what I would like to buy. I would definitely prefer a minimum segment C sized EV and preferably with a range of 800-1,000km. Please note that when range is 800-1,000km, it meant that they could conservatively reach around 640-800km (20% discount) and this range is pretty decent. I shall wait a bit and I am very sure most models can reach this range within a few years.
Think about it. if we drive an EV with a 800km range, it meant that we may need to charge just 3 times every 2 months or just 18 times in the whole year. This is indeed an attractive fact. Sure, it may take one whole night if we charge at home but we are charging it while we sleep yeah… The next day, it’s back to full charge and we get that immediate response feeling of an EV. (Yes, I test drove a Tesla and the power delivery was immediate without any lag…)
The RON95 petrol price will increase in price soon. We just do not know the actual date yet.
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