Markets

Gas Malaysia to raise gas price by 10.3pc from July 1

Published June 10, 2015 Updated June 10, 2015 05:42am

1 min

By Parvez Jabri

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KUALA LUMPUR: Gas Malaysia Bhd , Malaysia's sole supplier of natural gas except to the power sector, said on Tuesday evening gas prices supplied to commercial and industrial sectors would rise by an average of 10.3 percent from July 1.

The tariff adjustment comes seven months after the last revision in October as part of a previous government plan to cut subsidies and reduce its budget deficit.

The gas tariff in Peninsular Malaysia will increase to 21.80 per million British thermal units (mmBtu) from 19.77 ringgit per mmBtu, Gas Malaysia said in a stock exchange filing.

Gas Malaysia said the increase was due to higher buying price of the fuel that it procured from state oil firm Petroliam Nasional Bhd. The gas price hike is not applicable to households that use liquefied petroleum gas, it added.

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