Petronas Dagangan Bhd (PDB) shares rose yesterday after Prime Minister Datuk Seri Anwar Ibrahim announced a reduction in the price of RON95 petrol to RM1.99 from RM2.05 per litre, effective September 30.
PDB shares closed at RM22.30, up 30 sen compared to the previous trade.
Anwar also announced that all Malaysian citizens aged 16 and above who hold a valid driving licence can purchase up to 300 litres of RON95 per month at the subsidised price, regardless of income level.
Citizens will need to show their National Identity Card (NRIC) when purchasing or verify their identity through a specific mobile application before they are eligible to receive the subsidy.
Meanwhile, CGS International Securities Malaysia Sdn Bhd expects the introduction of the quota will not affect the average fuel consumption of Malaysians.
CGS also stated that NRIC verification means non-citizens are not eligible to purchase subsidised RON95.
In the future, the government will use behind-the-scenes data analysis to monitor and crack down on individuals who abuse the subsidized RON95 quota.
