With the Budi Madani RON 95 petrol subsidy programme having started yesterday, September 30 for all Malaysians (from September 27 for police and army personnel and from September 28 for Sumbangan Tunai Rahmah (STR) recipients), nearly three million users have purchased almost RM91 million worth of the fuel since the subsidy programme began, according to the ministry of finance.
For the first day of the Budi95 roll-out for all Malaysians, 21.8 million litres of RON95 petrol were sold at RM43.7 million as of 7pm yesterday, Malay Mail reported.
Malaysians eligible for the RON95 petrol subsidy will pay RM1.99 per litre for the fuel at at quota of 300 litres a month, while the non-subsidised price of RON95 petrol will be RM2.60 per litre throughout the month of October, the finance ministry announced earlier this week.
According to finance minister II Datuk Seri Amir Hamzah Azizan, the unsubsidised price of RON95 petrol that is RM2.60 per litre is being fixed for a month for the Malaysian public to adjust to the workings of Budi95 before the price of the fuel is floated based on global pricing, though the upcoming price float will not impact the price of subsidised RON95 petrol.
The price float for unsubsidised RON95 petrol would follow market movements, rising and falling along with global prices, similar to the mechanism applied to diesel fuels, he said.
The Budi95 petrol subsidy programme for Malaysians could save Malaysia between RM2.5 billion and RM4 billion a year by limiting the fuel subsidy to Malaysians with a MyKad and a valid driving licence, and not for foreigners and the commercial vehicle sector, the Malaysian government has said previously.
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