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Govt to sustain oil prices as long as possible

 


January 4, 2008

MALAYSIA/ENERGY
Govt to sustain oil prices as long as possible

Malaysian Prime Minister Abdullah Ahmad Badawi has said that the Malaysian government would keep oil prices unchanged as long as it can sustain them, local press reported on Thursday.

Badawi said that the government was closely watching the movement of the escalating oil prices worldwide and its higher subsidies, The Star newspaper reported.

If the government can sustain the prices, it certainly will, said the prime minister at a weekly Cabinet meeting.


On Feb. 28, 2006, the Malaysian government raised the prices of petrol and diesel. The price of petrol was raised by 30 sen to 1.92 ringgit (56 U.S. cents) per liter, while diesel was raised to 1.58 ringgit (46 U.S. cents) per liter.
 
The Malaysian government has been keeping its promises not to raise the fuel prices since then.


Courtesy Xinhua

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