Price of RON95 should have gone up by 20 sen - Khairy

The government should have increased the price of RON95 petrol for July by 20 sen but decided on a 10 sen hike, said Youth and Sports Minister Khairy Jamaluddin.

Khairy, who is also UMNO Youth chief, aid the government had to allocate RM100 million to subsidise the difference.

Khairy told this to reporters after handing over Ramadan contributions to the needy at Masjid Bandar Baharu Beris here today.

Fuel prices in the country are determined by the Management Float Mechanism and are adjusted at midnight on the last day of the month.

For July, RON95 petrol went up by 10 sen from RM2.05 to RM2.15. The price of diesel which is also subject to the Managed Float Mechanism was maintained at RM2.05 whereas RON97, which is controlled by market forces, went up by 20 sen, from RM2.35 to RM2.55.