Here’s my calculation based on how we can convert USD per barrel to RM per litre.
One barrel is equivalent to 42 US Gallons (There’s a difference between US and UK gallons).
One US Gallon is equivalent to 3.79 litre. So this makes one barrel equivalent to 159.18 litres (42 x 3.79)

Using 1 USD = 3.5 RM,
The formula to calculate RM per litre is as follows: (USD crude oil price per barrel / 159.18) times 3.5.

At current market value of USD 94 per barrel, price per litre is (94/159.18) times 3.5 which is RM2.06 per litre.
So if the goverment is subsiding 30 sens, we should be getting RM1.76 per litre.

Now if we roll back few weeks ago where our petrol price was reviewed, the market price per barrel was around USD130. So we get (130/159.18) times 3.5 = 2.86 RM per litre. If Govmen subsidies 30 sen, we get our current pump price at 2.55.

i am trying to guesstimate the price of petrol based on average US retail price as at 11 Sept 08. this ignore any time lag, different crude oil price and quite a few factor exist in real world but my own guesstimate is, this guesstimate result should be about right.

okay let’s start…

USD 3.668 per gallon (assuming that for RON97)

1 gallon = 3.785411784 liter

USD 1 = MYR 3.438

so, 1 gallon = MYR 12.61

so, 1 liter = MYR 3.33.

Traditionally, petrol price in Malaysia is cheaper by around 30% than the US.

So MYR 3.33 x 0.70 = MYR 2.331

Therefore if Govt. announce new petrol price TODAY, it could be around or lower than RM2.33 per 1 Liter (inclusive of subsidy).

That is a reduction of around :
1. 8.627% than current price of MYR 2.55 per 1 liter.
2. 13.7037% than the previous price of MYR 2.70 per 1 liter.

But still an increment of 21.354% from the ‘old’ price of MYR1.92 per 1 Liter.

If G took the average price of last 14-day of Singapore Oil… somebody who know these S’pore oil MOPS price could actually calculate the new petrol price right away ..

can somebody do that ?

Floating price mechanism is not new, and the price although generally based on crude oil price, it is much more dictated by Singapore Oil prices (which set the price for ASEAN region generally), and have factored in cost of production etc. apart from crude oil only. MOPS95/92/97

And whatever price dictated by the exchange will be averaged for two weeks then subsidised by 30 sen to make the new pump price.

As for towkays and roti canai sellers not lowering their price , then I hope that the mechanism to dictate prices of oil can also be used to lower price of roti canai. OR better when PR come to power then Anwar can come up with a pricing mechanism for mee goreng, roti canai, nasi lemak etc. based on raw material price. Better still make production of food to be govt. only industry.

puny savings in petrol when the tax on imports can already cover the cost of subsidy 1000 times over.

and i am not getting my hopes up, something bad will overshadow this minor good news.

see what anwar can do when he goes in. go go go!

hahahaha.. the conclusion is.. ‘we’ need the new ‘FACELIFT’ of the G. but im quite sure even with the new ‘FACELIFT’ ‘we’ also ‘HENTAM’ jugak. so no matter who or which party manage the country. as long as u’re the G. ‘we’ will ‘HENTAM’ at time to the time. hehehehehe.. our mentality… right..
—————————————————————-

That’s democracy…we are the boss…the govt should serve us not as currently d other way around…..Terima kasih to Kerajaan kerana provide..etc….??? (why need to thank…..it’s yr duty as the govt ler)

Yeah, right……

DONT CARE TAPI I THINK WE MUST BERSYUKUR…

THE DROP OF PRICE MEANS I CAN BUY MY DOCKERS MORE

Can someone explain the parallel comparison-persamaan serentak on how global crude oil prices effect local petrol/gasoline prices?

If you monitor global crude oil prices, can you make a prediction on what the local petrol price will be next month? Is that how it works? Why are there folks worried about CNY Diwali and Christmas prices?

As for grocery and foodstall prices.. supply and demand only. The price will go down if the buying stops.. or sumthin’ like that.

Ok then, bash away.

I would wonder most of the time, why not our government take extra efforts to explain in details about the breakdown of these costs. I do understand, to calculate the actual cost and fuel surcharge trucking is far more complex. But i do hope someone from our G could shed some lights to us to understand more how is our RM2.55 p/litre come into retails.

Facts
1 Barrel = 158.987 litres (Source : http://en.wikipedia.org/wiki/Barrel)

One barrel (42 gallons) of crude oil, when refined, yields approximately 19.6 gallons of finished motor gasoline. The remainder of the barrel yields distillate fuel oil, residual fuel oil, jet fuel, and other products. (Source : http://tonto.eia.doe.gov/ask/gasoline_faqs.asp#gallons_per_barrel)

1 Litre = 0.26g (US), for UK is (0.22) (Sounce : http://www.teaching-english-in-japan.net/conversion/liters)

19.6g / 0.26 = 75.38 litres of motor gasoline.

Then? Win-Lose~

Threten the gov with jumping party and severe unpopularity, they will lower fuel prices. This is the rakyat’s new weapon. Use it all the time!

When BN win, BN = Barang Naik… Even fuel price when down, but the damage have been done badly… Thanks to flip flop decision…

Even fuel price went down, but the mamak stall / hawker price got went down?!? We suffer the most!! Wah~!