Beginning January 2020, the government will implement the Targeted Subsidy Scheme (PSP) in Peninsular Malaysia, which will see RON95 and diesel retail prices being gradually floated. New scheme: Beginning January 2020, the government will implement the Targeted Subsidy Scheme in Peninsular Malaysia, which will see RON95 and diesel retail prices being gradually floated.
PETALING JAYA: The government’s plan to remove blanket fuel subsidies next year will likely increase price pressures but the inflationary effect could be negated by the projected lower oil prices in 2020.
According to Fitch Solutions Macro Research, the average crude oil prices are forecast to decline to US$62 per barrel and US$58 per barrel in 2020 and 2021, respectively.
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