The Government on June 4, 2008
announced an increase in petrol and diesel
prices that puts the new prices at RM2.70
per litre for petrol and RM2.58 per litre for
diesel.
The prices for petrol and diesel were
previously RM1.92 per litre and RM1.58
per litre respectively.
The new prices reflect a 41% increase
in price.
He Government however, underlined
that the new price of RM2.70 per litre did
not reflect the full market value, which
could be as high as RM3.00 to RM4.00
per litre when the price controls are
completely removed in August.
The Government nevertheless,
announced a consolation of several rebates
to help alleviate the burden faced by
consumers.
This includes a payment of RM625 per
year for private vehicles with an engine
capacity of 2000cc and below, including
private pickup trucks and jeeps with
engine capacity of 2500cc and below. The
Government will also make a payment
of RM150 per year for each private
motorcycle with an engine capacity of
250cc and below.
Other initiatives include a RM200
reduction on road tax for private petrol
and diesel vehicles with an engine capacity
above 2000cc and a RM50 reduction on
road tax for private motorcycles with an
engine capacity above 250cc.
