In a news flash by The Star, Domestic Trade and Consumer Affairs Minister Shafie Apdal has given assurance to the rakyat that there would be no more petrol price increases this year, following the steep hike of petrol by 30 cents across the board this morning. The government expects to save RM4.4 billion a year in reduced fuel subsidies which they say can be used for development.
We’d better get used to this price. I will be taking the Putra LRT to my client’s offices more often, as they are all in the KLCC/Jalan Tun Razak vicinity. However, the safety of my car while parked at the LRT station is a concern, sigh.
BTW, I made a mistake yesterday. It seems Shell V-Power has not gone up 30 cents to RM2.02 a litre. It went up by 43 cents and it is now RM2.15 a litre. Shell V-Power is a RON97 petrol, the same as Shell Super but it is a different formula which contains extra additives, so it is more expensive. Demand for V-Power is likely to go down, so that’s probably why Shell increased the price by a larger margin.
In other related news, Malaysia Motorcycle and Scooter Dealers Association’s president Wee Hong expects the sales of motorcycles and scooters to go up following the increase in petrol prices, especially the ones in the 125cc range. These cost between RM5 to RM7 to fill up, according to Wee Hong.
Related: View on the effects of the price hike.
Source: Bernama, The Star SMS Flash