What is the current market price of NGV compared to its selling price?

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The Selling Price of Natural Gas for Vehicles (NGV) is Significantly Lower Than its Market Price

The current selling price of Natural Gas for Vehicles (NGV) in Malaysia is RM1.05 per litre, while its market price stands at RM2.77 per litre. This substantial difference highlights a considerable subsidy or pricing adjustment by the government or its appointed entity, Petronas NGV Sdn Bhd (PNGV), to support the sector.
NGV Sector Faces Declining Demand

The demand for NGV and NGV-based vehicles has seen a significant decrease since 2015. This decline is attributed to several factors, including the increasing popularity of e-hailing services, which primarily utilize NGV-powered vehicles, and a broader shift towards more environmentally friendly alternatives.
Government Open to Reviewing NGV Sector's Potential

Despite the declining demand, the government has indicated a willingness to consider the potential of the NGV sector. Discussions on this matter may take place within platforms such as the National Economic Action Council, with input from Petronas, which oversees NGV in Malaysia.
Market Forces and Alternatives Influencing NGV Usage

The government's stance is that NGV usage should ideally be determined by market forces without direct intervention. The shift in demand is also influenced by the growing adoption of vehicles meeting higher emission standards like Euro 4M and the increasing prominence of electric vehicles (EVs). The government is also actively working to ensure EVs become more affordable across all income groups.

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What is the current market price of NGV compared to its selling price?

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