IPOH — A mechanism to stabilise the prices of fuel especially RON95 and diesel will be announced when they surpass RM2.50 per litre, said Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah.
He said the mechanism or measure should benefit households in the B40 (low) and M40 (middle) income groups.
Without elaborating on the mechanism, he said the government had set the ceiling price for RON95 at RM2.50/litre.
“The government is studying the mechanism and it is not finalised yet, there are two or three options.
“We will carry out in-depth study on the matter as we do not want the people to say there will be catches in the implementation,” he told reporters after attending Sekolah Kebangsaan Convent’s academic excellence awards ceremony here today.
On Monday, the Finance Ministry in a statement said the government would be identifying suitable measures to reduce the impact of rising crude oil prices in the world if the retail prices of RON95 and diesel exceed RM2.50 per litre continuously for three months. – BERNAMA