Malaysians are shocked to find out that this week fuel price will see its third consecutive increase. RON 95 has been hike 3 cents and RON 97 will go up 2 cents.
The world crude oil price in the past week has go down by a dollar and the Ringgit has strengthened marginally against the dollar. The government must explain on what basis it has hike the fuel price once again.
According to a report by Reuters, March inflation has hit an eight-year high at 5.1%. Has Putrajaya been quietly collecting hidden fuel tax which has cause the inflation to shoot up in recent months?
When Putrajaya abolish the fuel subsidy in November 2014, RON 95 was retailing at RM2.27. The price for RON 95 has gone down since then due to the fall in world crude oil price.
When Government implemented GST in April 2015, RON 95 was priced at RM1.90 per litre, which is lower compare to today’s price. It is not a surprise that Inflation in March has shoot up to 5.1% since the price of RON 95 has gone up to the price of pre abolishment of fuel subsidy and GST has been implemented now.
Government has collected an additional RM 18 Billion under GST compare to SST. The government has also saved an estimated RM20 Billion annually since the abolishment of fuel subsidy.
Malaysians have to bear the burden of this total of RM 38 Billion in tax collection and subsidy saving by the government.
I call on Putrajaya be transparent and immediately release the formula and calculation for the weekly fuel price to prove that it has not been quietly collecting hidden fuel tax from the rakyat.
Media Statement by Chong Zhemin, DAP Perak Economic Developement Bureau Chief and Political Secretary to Taiping MP on 19 April 2017