KUALA LUMPUR: The setting of a ceiling is one of the options the government is considering to tackle the issue of escalating oil prices. Second Finance Minister Datuk Seri Johari Abdul Ghani said in certain advanced countries, the government would leave oil prices afloat and the oil and gas (O&G) industry players would determine them. He said if Bantuan Rakyat 1Malaysia (BR1M) is insufficient, the government would consider increasing it to cushion the impact of oil price increases. Johari said in terms of oil prices, other countries in the world would share a similar fate. “We are unable to control the prices, and as a result when the prices escalate, Malaysian oil prices experience the same increase,” he said.

Source: The Edge Markets February 10, 2017 00:33 UTC