Please still make a report to KPDNHEP if you see foreign cars pump RON95
Anyone who has been consistently reading the news will know that there has been a huge uptick of news articles regarding Singapore-registered vehicles (yes there are foreign-registered cars from other countries as well, but the majority are form Singapore) pumping RON95, but how detrimental is this really?
So a while ago, we took a look at just how much money we lose every time a Singaporean pumps RON95 (which is heavily subsidised and is meant only for Malaysians and Malaysian-registered vehicles) instead of RON97, which is not subsidised as much.
Moreover, in that article, linked here, we discussed exactly how much money we lose when a Singaporean pumps RON95 into their car down to the last cent for every litre and every car, instead of RON97, which is not as heavily subsidised and is actually meant for foreign-registered vehicles.
So, right now in March 2023, RON95 is set at RM2.05 per litre which would be RM3.22 per litre if it were not subsidised. This means that RON95 is subsidised for RM1.17 by the government so in other words, the government subsidises 57 percent of RON95, which is a fairly high amount.
So lets assume a Singaporean who drives a regular fuel efficient family car with a typical 55 litre engine capacity and they pump RM50 worth of RON95, which at current exchange rates is only SGD15.13, they would save RM58.5, or SGD17.70, which does not seem like much, until one remembers how many cars do this.
On top of that, what if the same Singapore-registered car comes back every week to fuel up on some of our subsidised RON95? Well, assuming we lose RM58.5 a week? At the end of the month, that would translate to RM234, per car. Now this number starts to stir up a bit more panic.
Naturally, this kind of loss is quite harmful to us and may even cause the government to reconsider subsidies altogether. I don’t know about you, but I for one, am not willing to pay full price for petrol here just because of a few cheap and irresponsible Singaporeans, especially since everything else is already so expensive.
Would you be willing to pay the full RM3.22 per litre for RON95 should the time ever come for it? I would not. If this has to happen naturally and proves to be unsustainable on our own accord, I will accept it, at least it is our own fault as Malaysians, but I will not accept it if it is the fault of Singaporeans.
So, if you see anyone pumping RON95 who shouldn’t be, please contact the Ministry of Domestic Trade And Consumer Affairs (KPDNHEP) and help us Malaysians keep our fuel subsidies for as long as we can.
