Petrol prices in Malaysia are expected to go up again because of the hike in crude oil prices worldwide. One barrel of crude oil went up to an all time high of USD$60 (roughly RM228) per barrel on June 20th 2005.
The Star published an article today warning us of our wallet’s impending doom.
Rumours are going around that the hike will actually take place tonight at midnight, 1st July 2005.
Petrol prices went up last month by 10 cents so it should go up by another 10 cents this month.
Time to buy a motorcycle!
How much do you think the price hike would be this time?
Update: At the same time, Petronas posted group net profit of RM35.5 billion. Can’t the government contra the raising fuel subsidies with raising tax income from the Petronas group’s profit?