ID :
31104
Wed, 11/19/2008 - 16:59
Auther :
Shortlink :
https://oananews.org//node/31104
The shortlink copeid
GOVT STILL PROVIDING FUEL SUBSIDY
KUALA LUMPUR, Nov 19 (Bernama) -- The government is still providing fuel subsidy to fleet card holders like lorry and bus operators as well as fishermen,Deputy Finance Minister Kong Cho Ha said Wednesday.
Kong said the government was using the automatic pricing mechanism to
determine the retail prices of petrol and diesel, based on the global crude oil
prices.
He said this in reply to a question in the Lower House of Parliament
Wednesday concerning the retail prices of petrol and diesel which have been
lowered by the government following the drop in the world crude oil
prices.
In early 2008, the crude oil prices were on the rise, going up to US$140
per barrel in the middle of this year.
Kong said in August this year, the world crude oil prices declined and the
downtrend was continuing.
"In line with the downtrend, the government has from time to time reviewed
and reduced the retail prices of petrol and diesel," he said, adding that the
prices had been lowered four times over the past two months.
Kong said the government was using the automatic pricing mechanism to
determine the retail prices of petrol and diesel, based on the global crude oil
prices.
He said this in reply to a question in the Lower House of Parliament
Wednesday concerning the retail prices of petrol and diesel which have been
lowered by the government following the drop in the world crude oil
prices.
In early 2008, the crude oil prices were on the rise, going up to US$140
per barrel in the middle of this year.
Kong said in August this year, the world crude oil prices declined and the
downtrend was continuing.
"In line with the downtrend, the government has from time to time reviewed
and reduced the retail prices of petrol and diesel," he said, adding that the
prices had been lowered four times over the past two months.
