Malaysians paid over RM1b in hidden fuel taxes since December, MP claims

April 5, 2015

And the problem of hidden fuel taxes is?

Dateline 2015-01-30, Malay Mail Online:

Malaysians have unknowingly paid more than RM1 billion in taxes to Putrajaya over the past two months as pump prices remain on a controlled float, an opposition lawmaker claimed today.

PKR’s Pandan MP Rafizi Ramli alleged that road users across the country have been paying above market price for the commodity, even after the complete removal of subsidies, due to the plunge in global crude oil prices.

“Because the rakyat continue to pay higher than market price, Barisan Nasional received a windfall by collecting petrol tax without announcing it to the rakyat,” he said in a statement, referring to the ruling coalition.

“For the month of January 2015, the rakyat paid RM307 million in petrol taxes for RON95 and RM209 million for diesel,” he added.

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Rafizi to fight for viable retail oil industry

March 17, 2015

Why the long faces? Oil prices go up and down. When they go back up to USD100 this 2H2015, will there be an outcry from the retailers?

Dateline 2015-01-08, FMT:

Pandan MP Rafizi Ramli has warned that profit margins in the retail oil industry are being squeezed between advance purchases of oil by station owners, reduction in pump prices at monthly intervals as the oil market declines, and government taxes.

He called for pump prices to be fixed on a weekly basis and station operators be allowed to collect petrol and diesel supplies on a consignment basis as the practice is elsewhere in the world.

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Show us your numbers, oil and gas expert tells govt

December 24, 2014

Anyone know Anas Alam Faizli?

Dateline 2014-10-16, The Rakyat Post:

This morning, the Malaysian government’s fuel subsidy came to an end — or at least temporarily.

This was when as the price of RON95 fuel bought by the government and the price it was sold to the Malaysian public became equal, according to oil and gas expert Anas Alam Faizli.

“As of this morning, it broke even.

“If the retail price retains at RM2.30 (per litre) and the Mean of Platts Singapore (MOPS) drops further, it becomes a tax,” Anas told The Rakyat Post, pointing out that the price of RON95 was trending downward for the past two weeks.

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New mechanism puts inflationary pressure on rich and poor alike

July 27, 2014

Dateline 2014-06-03, Sin Chew Daily:

Once the government has put into implementation the “eligibility for subsidized fuel purchase” mechanism, those in the low and medium income bracket are not expected to be severely affected, but it is inevitable that the public will have to confront the inflation problem thanks to rising fuel cost.

The Petroleum Dealers Association of Malaysia (PDAM) hopes the new mechanism will make things convenient for vehicle owners while not excessively increasing the burden of petroleum dealers in the country.The association believes the prices of RON95 and diesel will inevitably be increased progressively.

According to the SMI Association of Malaysia once the government has specified that only those earning RM5,000 and below will be entitled to purchase subsidized fuel, small businesses will be affected.

Some believe the public will better accept the government’s plan if the subsidies saved could be used to improve on existing transportation facilities and development.of new infrastructure.

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New fuel subsidy plan will create black market, PKR MP warns Putrajaya

July 26, 2014

So, we’ll buy petrol literally of the back of lorries, eh? I say remove all subsidies, improve and extend bus, LRT, MRT, train and becha services, raise taxi fares (have you seen the taxi fares in Kerteh?), summary execution for errant bus and taxi drivers.

Dateline 2014-06-03, Malay Mail:

Putrajaya’s plan to sell fuel at different subsidised rates to different income groups may create a “black market”, PKR’s Pandan MP Rafizi Ramli said today.

The PKR leader said the government’s bid to limit or deny high-income Malaysians’ access to subsidised fuel could end up creating an illegal trade and result in an abuse of the system among those in the lower-income categories.

“I worry if this new subsidy system is not refined and openly discussed, when it is implemented in the future, it will create a black market for petrol and diesel that will create a new and larger problem than the existing smuggling because it involves even more people and the public,” the outgoing PKR strategic director said in a statement today.

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Highest and Cheapest Gasoline Prices by Country

July 20, 2014

dateline 2014-06-02, Bloomberg:

Malaysia

Price per gallon of gasoline: $2.42
Rank by most expensive gas: 54
Rank by pain at the pump: 37

Malaysia’s extensive fuel subsidies give it one of the lowest gas prices in the 61-country ranking.

Cheap gas comes at a cost; despite strong economic growth, Fitch Ratings lowered the country’s credit rating last year. Soon after the rating drop, Prime Minister Najib Rasak cut the fuel subsidy by almost 23 cents a gallon.

Gas prices rose 11 percent since July when priced in Malaysian ringgits.

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Reforms in fuel subsidy not expected until after GE

May 2, 2012

Dateline 2012-04-12:

Malaysia’s huge fuel subsidy bill, estimated at RM20 billion last year, is overdue for an overhaul. While reforms are imminent, few expect any of it can happen until the general election (GE) is over.

An indication of how far off we are from real market prices is plainly seen at the pumps.

Last week, the price of the market-driven RON97 petrol blend was increased by 10 sen to RM2.90 a litre. The more widely-used RON95 blend and diesel selling prices were kept at RM1.90 a litre.

It was estimated that the cost of petrol is at least RM2.80 a litre based on the crude oil price of US$120 a barrel.

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Minister: RON95 petrol subsidy up 10 sen, pump price unchanged

April 15, 2012

Dateline 2012-03-27:

The government’s subsidy burden for RON95 petrol rose by 10 sen per litre this month due to increasing global oil prices said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob today to the Star.

He said that the total subsidy per litre is now RM1.03. RON95’s pump price presently is RM1.90 per litre.

Ismail Sabri said the government does not want people to bear the burden.

Last December RON95 pump price was raised 5 sen.

Late last month, Prime Minister Datuk Seri Najib Razak assured Malaysians that RON95’s — which is used by most motorists — present price would be sustained regardless of global oil prices.

 

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From The Star – RON95 Remains Steady

March 11, 2011

Dateline 2011-02-24:

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said here on Thursday that fuel prices would not be raised despite the escalating global oil price.He stressed that the current situation could still be handled without increasing the price of RON95 and diesel in Malaysia, which is now at RM1.90 and RM1.80 per liter.

Meanwhile, the ministry would discuss with the Finance Ministry to work out alternative measures to cushion the increase including increasing government spending on oil subsidy, he said.

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You can subscribe to an online version of the paper at the e-browse site.

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From Rueters – Malaysian dealers to hike price of premium fuel

November 13, 2010

Anyone else know about this?

Dateline 2010-11-01:

Malaysian petrol dealers said on Monday they will raise the price of the premium grade RON 97 fuel by 5 sen or 2.4 percent to 2.15 ringgit ($0.695) a litre on Tuesday.

“RON 97 has not been subsidised by the government and since world oil prices have gone up, the petrol price gets adjusted,” Hashim Othman, president of the Petroleum Dealers Association of Malaysia, told Reuters.

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