What's Up With Our Fuel Subsidy Systems?
Dr Mohd Shahreen Madros, Adjunct Professor, UKM Graduate Business School | Lee Heng Guie, Executive Director, Socio-Economic Research Centre (SERC)
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The topic of oil prices has been around a lot lately, as we see prices skyrocketing amidst recent world events. Finance Minister Tengku Datuk Seri Zafrul Aziz has said that the government’s subsidies for petrol, diesel, and liquefied petroleum gas for 2022 could amount to RM28 billion if oil prices remain at this level. First, we look into our current subsidy system, and what it would look like to take a more targeted approach. Then, we look into the reasons why our fuel prices are so volatile, especially since we produce our own oils.
Image source: Shawnviphography, Shutterstock
Produced by: Jeremy Ng, Lee Chwi Lynn, Sharmilla Ganesan
Presented by: Lee Chwi Lynn, Sharmilla Ganesan
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Categories: trends and forecasts