KUALA LUMPUR, Feb 25 — Datuk Seri Najib Razak promised tonight that the pump price of RM1.90 per litre for RON95 would be maintained despite the escalating global oil price.
The prime minister’s assurance came just a day before campaigning begins for the Kerdau and Merlimau by-elections scheduled for March 6.
“Whatever decision that we will make, we will take into account the interest of the people,” said Najib (picture) after chairing an Umno supreme council meeting here.
Only RON97 petrol is priced according to a market float in the country while RON95 petrol, diesel and gas are subsidised.
“We will review, I can’t say about the future but we have no plans to increase the price,” the Umno president said.
Najib pointed out that the government has allocated RM10.3 billion this year for food and fuel subsidy.
Oil price rose to above the US$113 per barrel today due to concerns over the unrest in the Middle East.
Spreading unrest in Libya has shut down 6 per cent of oil output in Africa’s third-largest oil producer.
Domestic Trade, Co-operatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob had said that the subsidy could increase to RM14 billion this year if the oil price continues to rise.
The last time the price of RON95 was increased was in December last year when it was raised from RM1.85 per litre to RM1.90.