News

Petrol Price to Stay at RM2.70, or Even Go LOWER!

A adam
Posted onJun 12, 2008 at 3:40 PM
Updated onUpdated on Jun 12, 2008 at 11:58 PM

raise-of-petrol-pricePhew.. What a relief!! There will be NO further price hike, at least till the end of this year despite the possibility of crude oil price reaching USD200 per barrel (equivalent to RM4.30) as forecast by some analysts. Petrol will be retained at RM2.70 and diesel at RM2.58 at the pump.

Moreover, the price could even go lower, if the world price drop below the current rate. In order to stem any more increase, the Government would have to think of alternative ways to finance its spending.

““The Government realised that the rakyat is still trying to adapt to the higher petrol prices. The Cabinet has thus decided there will be no more increase this year. However, if the world price drops, we will use the 30 sen subsidy adjuster as a discount on pump prices.” -Badawi-

Although still difficult to swallow and not the best outcome that we would all have wished for, this is definitely a welcoming announcement. At least we would get a breather and some time to adjust our expenditure patterns based on the RM2.70 fuel price, rather than a floating price at the start of every month! Just pray hard that the price will go below USD139, then the pump price would reduce accordingly..

Post Views: 494
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    dissapointer
  • Jun 12, 2008
Firstly it is good to hear about no further petrol price hike. But hey, current petrol price still costly to many. It should not have price hike since our country has Petronas. The government actually first failed and upset many people when there was Proton. And with Petronas being a net oil exporter in Malaysia, the government upset us again. :(

As some other articles mentioned or as we already knew, Malaysia is one of the highest tax paying country. Well, our government don't care. They doing too many unpromosing cosmetic work. Talk but no promising action! db!!!
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    Choon
  • Jun 12, 2008
2.70 is still high man.. ppl become oil producing country, we become oil producing country, how come our price have to folo market? because the country wants profit...
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    wongth7
  • Jun 12, 2008
the world should stop all kinds of motor sports including F1, moto GP etc...wats the point of having 10 or 20+ cars to waste all the petrol on the track??..no offence..to all motor sports lover..im a F1 fan myself..but the earth resource should't be wasted like tat if u think about it..might as well use the petrol on public transport or public road cars.
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    adam
  • Jun 12, 2008
yeah, i definitely agree that RM2.70 is damn high!! 40% increase man! under this f***ked up situation, this is as good as it gets.. until something/someone is working intelligently towards getting the problem solved, what else can we do? we still need to buy petrol to go to work, to bring our friends and family around, etc etc.. sigh, tough time for everyone...
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    m3 power
  • Jun 12, 2008
motor sport should change to environmental friendly technology. hehe. like solar power or wat so eva. can gain new r&d. anyway we dont have to raise the fuel price. because we are oil produce country. imagine durian is expensive in global market, is it logic for us to raise our durian price locally just because durian is expensive in global market price? dont compare price of durian at japan and price at msia. of course msia still the lowest however. think wisely. dont be fool by parti Bodoh Negara. they rob all the rakyat money. now they dont have money thats why dont have money to subsidise. Bodoh Negara is full of corruption and lead by loser. now we rakyat have to suffer. cant wait september. see what will happen.
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    K-RIE
  • Jun 12, 2008
I don't think the fuel price will decrease because it never happens in this country. Believe me. Instead, it will go higher by next year. Just think. In south east asia region, our country is the highest among all country although our country is producing fuel. How come? Even s'pore is lower than us. So how? I hope the governent just don't say that the fuel price right now rm3.15 and they subsidise about 30sen per liter. Come out with the statistics and the precise calculation why the subsidise only 30 cent or just don't subsidise at all, if they brave enough. If they are truthfull to the Malaysian, then come out with statistics. If it corrrects, then I don't think the people will be so angry. And the rebate doesn't help at all. Total one year for fuel usage price is uncomparable with just rm645. So, I don't know what to say. It just doesn't make any sense at all. But I hope the government will revise that price and hope what they say is true, to decrease the fuel price. Just hoping for the best. Salam
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    nyck
  • Jun 13, 2008
First of all,there is no such thing as 'goverment subsidies'. Its Petronas paying royalty to the government. And Malaysia as well as any other oil producing countries have to follow the global market oil price,not simply put the price on our own. Blame the main oil contributor in the market which is Arabs for holding the supply of oil for speculation purposes. We all know that the Arabs are getting fatter and fatter by the day,no offence.

I dont think that Malaysia is one of the highest tax paying country. Compare it with the UK, they pay a whole lot more than malaysian does which is 40% of their monthly income. Correct me if im wrong.

m3 power,u cant put ur durian case and oil case on the same understandings. durian is a product that can be reproduced by humans and oil cant. So,stop all your gibberish and nonsense arguments against the goverment.
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    dissapointer
  • Jun 13, 2008
Well nyck,

What I meant is we are still "one" of the highest tax paying country. Or you can think this way. How is you consumption power in KL or in Malaysia with the salary you earning? In general, it is already very bad for most salary worker even before the price hike. How much savings you can have in Malaysia while you need to pay off your car loan, house loan, insurance, etc etc....I don't think much is left after all these expenses. :(

Look at the vehicle tax due to Proton...most of us want to be patriotic to our country ...honestly speaking, many are very excited when Malaysia had its own national car...however, when time flies, there are no improvement at all as can be seen...

Most importantly, lets review where our country stands at an international level? We used to be ahead of China or Singapore...and today they are far ahead of us already. At times, our government like to compare with other worse countries but hey..is that going to help develop? The country will not improve much if always compare with the worse..

Of course, your perception and mine could be different to a certain extent..well this is just all personal opinions anyway ;)
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    nyck
  • Jun 13, 2008
Dissapointer..

You based your assumptions on the expenses incurred monthly. That's a whole level of different perspective than tax buddy. I think it's what your trying to say is that our general real income wages is lower compared with others. Thus,purchasing power from our Ringgit is less.

Yup,the vehicle tax is rubbish. In order to prevent Proton from experiencing prica fall,they imposed the ridiculous 200% tax for imported cars. HAISH..!

China is a vast growing country due to the population and as well as their cheap labours being exploited truly. Their economy is considered as one of the fast growing globally. Even US is far behind last 2-3 years (if im not mistaken). But their income gap are tremendous,something like in Indonesia. Luckily Msia is not anywhere near that situation.

Ok2,well this is my personal opinions. :)
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    soontobelikeindonesia
  • Jun 14, 2008
Fuel price will never decrease.. Im currently in New Zealand and yesterday the fuel price increase from 200.9 to 212.9(BP station) ;) 12cent = almost RM0.30
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