Fuel price to be increased by 100%

Malaysia-The government will remove price controls on petrol and diesel, allowing pumps to sell fuel at world market prices in an attempt to reduce the government's ballooning subsidy bill.

The new price structure will start in August, and retail cost of the fuel will depend on global market prices.Petrol, diesel and gas are heavily subsidized at present but due to the unstable rise of price of the oil in US this year in which the government says the increasing subsidy bill is becoming untenable.

Malaysians who can afford to pay global prices should do so.Lower-income group of people, however, will be given subsidy in other forms cash handouts and fuel quotas!!