DIESEL prices will be floated and will retail at RM3.35 per litre starting midnight on Monday nationwide, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said the price is based on the Automatic Pricing Mechanism formula for the month of May.
The previous price of diesel announced on June 5 was RM2.15 per litre.
Amir Hamzah said the government will announce the diesel market price weekly according to standard practise by the ministry.
He said 30,000 private diesel vehicle owners from the B40 category will receive RM200 under the Budi Madani subsidy programme tomorrow.
Sabah and Sarawak are not affected by the move.
The finance minister II said applications for the targeted subsidy remain open and encouraged eligible consumers who have not yet registered with the Budi Madani system to do so.
Last month, Prime Minister Datuk Seri Anwar Ibrahim said subsidies for diesel would be withdrawn for "the rich and foreigners".
Anwar said the diesel subsidy will first be rationalised in the peninsula and will only be implemented in Sabah and Sarawak later.
To prevent any drastic increase in the cost of goods and services, Anwar said subsidies would be continued for traders using diesel-powered commercial vehicles and for public transportation.
Ten types of public transportation vehicles, including buses and taxis, as well as 23 goods transport vehicles, will come under the Subsidised Diesel Control System (SKDS). – June 9, 2024.
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