We could be looking at another reduction in petrol prices after this Wednesday’s cabinet meeting where fuel prices and the possibility of a reduction will be discussed, according to Minister of Domestic Trade and Consumer Affairs Datuk Shahrir Samad.
Datuk Shahrir previously said fuel prices could drop before Hari Raya Aidilfiltri so we can “celebrate Hari Raya happier.”
The last reduction in fuel prices was on the 23rd of August 2008 from RM2.70 per litre to RM2.55 per litre for RON97 fuel.
According to the NYMEX, crude oil is currently US$102.73 per barrel. A few days ago it was less than US$100 per barrel. Do you think RM2.30 per litre is possible? Will it make a difference?
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It will definitely better than no price reduction at all. Anything lesser will surely make everyone happy. Hope it will dip below rm 2 /litre soon !!
more reduction, more power
yaya..
cheaper mean saver..
-wl-
http://paultan.org/archives/2008/06/03/new-fuel-subsidy-structure-updates-for-tuesday/
Paul, the above link reports that USD 130/bbl equals RM 3.12. Now at average USD 100/bbl, it should be RM 2.40. Then minus 30 sen subsidy, it should be RM 2.10 per litre. I would say anything more than RM 2.10 per litre next week is a con job by BN.
the price of consumer goods increase when the fuel price increases, but i doubt it’ll decrease when fuel price decreases, so you’ll still be broke everytime you go shopping anyways
>abtm said,
>September 21, 2008 @ 10:08 am
>the price of consumer goods increase when the fuel price increases, but i >doubt it’ll decrease when fuel price decreases, so you’ll still be broke >everytime you go shopping anyways
agree.somebody’s got to fix this.so expensive to have cococrunch with freshmilk nowadays.
cheap fuel for everybody
YOOO I LOVE COCOKRUCH AND FRESH MILK !
THE PEMBOORONG MUST ACT RESPONSIBLE!!!
but i think the pemborong will still not lower the price….
how about if we abolish the pemborong…
the GLC should take the responsibility….
SYARIKAT PEMBORONG NEGARA maybe????
Put the fuel price to RM1.50 and I’ll be happy to drive my dad’s mercedes
Anybody who has an inkling of the oil prices would know that price typically goes up around 4th Q. Our best bet was Q2-Q3 where its a summer and fuel is not used for heating, but more on transport. There would be even more pressure on Gas prices to move north during Q4. But most of all, the American oil majors trying to recoup all they can get before Bush disintegrates.
Now, if the pro-business Prez candidate gets a leg up at the polls, that oil price is gonna stay up there for a whole lot longer as the cheque moves from the former to the newer Prez.
All in all, we are suckered through and through.
Or shall I say; we’ve been anwared through and through.
Howzat tommy?
Well we do know that everything increases when price fuel goes up!!!. Thus makes us stress out, people leaping out of high rise, people drives slower than snails. But the matter of fact when fuel prices goes down, DOES OTHER THINGS GO DOWN IN PRICE??? If the gov wants to unburden the RAKYAT so to speak, reducing one basic necessity’s price wont make the cut. ITS NOT SUFFICIENT. If the petrol price goes down, others should follow accordingly, ELECTRIC rate especially!! With that said, if the gov is kind enough to do so , will the business man/womans reduce their price of their services or goods? We know too well whats the answer. I really do miss those days where char koay teow costs rm2. sigh….
yeah, like someone said above. anything above 2.10 is fake publicity stunt. probably to woo back the “31 defectors” that anwar has.
but oil price are very unstable, it will drop and rise very quickly.
cutting and then increasing will not make the rakyat any happier.
tax on imported goods should be reduced too, so that instead of an 80 sen roti canai, we can have 80 sen ciabatto.
Paul, why is your figure (as quoted by NYMEX) vastly different from one by Opec ? It’s only USD 88.53 (19/9/08)
http://www.opec.org/home/basket.aspx
I’m not sure how this affects the rebate thingy. Further more, I have to agree about someone saying it should be around 2.10. If I could have it my way it should the same as before (RM1.92/ltr) as the G only increased the prices when it was over 130/brl (correct me if i’m mistaken). And to compensate the high cost of other food items due to the G’s shortsightedness, it is only fair to say that petrol should be around RM1.80. It is very possible in my opinion as Petronas makes billions of dollars every year. I would like to think that Petronas is a rakyat’s company rather than a few minister’s company
Not only cheap fuel, cheap Ramli burger, cheap nasi lemak, cheap everything.. noob dumb.
‘Damage’ has been done due to inflation cause by earlier increment. Even the fuel price drop to a point below than RM1.92/liter. Hopefully our G smart enough to be more pro-active tackle current inflation rate rather than focus on oil prices and politic games.
IF oil price drops lower than RM1.92/liter, would you think most of us appreciate it much ? If you ask my opinion, i would say so its not a wise decision to put sharp increment earlier which cause most of us suffering now. I’m not trying to blame any parties on this, in fact this has become our reality. Lets hold our hands together and fix it up.
**im bored with complaints, pls do think twice before make any decisions
the damage is done. even if they drop it back to 1.92/l, things will not get any cheaper.
latest update and some correction.
http://www.wtrg.com/daily/clfclose.gif
as far as i know. the latest subsidy method is as below.
30sen per liter, and a 32sen per liter will be charged for transportation.(correct me if mistaken)
so,
the latest crude oil price as of 19/9/08 is 104.55USD per barrel
the currency exchange rate is RM3.50 = 1USD
1 barrel = 159Liters
1 barrel = RM365.9 = 159Liters
=RM2.30 per Liter
gov. subsidized =30 sen
=RM2.00 per Liter
+ transportation =32sen
=RM 2.32 per liter
and i’m partially agreed with tommy73.
anything more than RM 2.30 per liter next week is a con job by BN.
(correct me if mistaken)
Maybe we need another by-election for the fuel price to drop again. it is not the hari raya mood, but the pilihan raya mood. The damaged has been done. The USD92 per barrel only applicable in new York market, but in London market it is already reach USD89 per barrel. Still remember the ‘venezuelan information minster’ a.k.a. Shabery Chik who said the price of crude oil will escalating and not reducing. He’s wrong. one thing tey forgot is, there is God up there things can be flip flopping anytime. Even Pak lah’s transition plan on 2010 not meaning year 2010 ad, but 20 of October this year. :-)
The price will be reduced for sure.
But do we really want the government to control every business? Also to dictate price and supplies of goods? At the moment only essential items are dictated but enforcement are low?
Do we need another GLC for supplies?
Do we want to live in a state controlled economy e.g. communist like country?
May be business should be more responsible and consumer rights group should be more active.
The thing is, our beloved PM is saying that the fuel price depreciation will also cause Petronas’ revenue to go down. So I’m assuming that the fuel price here will not go down as much, maybe another 15c or so.
The funny thing is, when the world fuel price went up, doesn’t that mean that Petronas’ revenue goes up as well? (But yeah, since I’m a silly goose in economics, maybe someone can enlighten me :) ) And since Petronas is govt. owned, that means more revenue for us? Consistent with the RM60b given to the govt by Petronas. But yet our subsidies were chopped of, and price of consumable sky-rocketed.
Maybe the govt thinks that we’re that dumb to not even know that 1 + 1 = 2
When the price dropped to below US$95 /barrel & based on the method tought by Star we shd be paying close RM1.80 (incld subsidy). Which means we are subsidising the govt instead since the local price remain at RM2.50.
Anyway..its a relieve that even comodity price dropped so also the price of steel. We have to embrace to economic uncertainty or perhaps the worst in respect of the gloomy US condition.
Don’t forget the RM625 that Bxxx Negara is giving away just to cushion the oil hike. Me personally won’t feel the Bxxx Negara will drop back to RM1.92/litre since those pxxx just can’t use their brain to think earlier and now cause a disaster to nation.
If they drop back RM1.92/litre, who will pay the RM625? They can’t stop the payout now since lotsa people still haven’t take it yet. A typical Malaysian culture, price only get higher but not cheaper. It happened once and it happen always. It’s just the matter of when?
Why can’t the Bxxx NEGARA use their brain to THINK? If they aren’t hike the price in JULY and wait till SEPTEMBER. This disaster just won’t exist!
jolly_idiot ….
The internet or blog does not operate in a legal vacuum ….. watch what you post here ….. you could get yourself into trouble, worst still Paul Tan and his blog may go down with you ……
Paul are you there ?
check this out.
1 barrel (tong) = 159 liter
1 USD = RM 3.45 (semasa)
Harga minyak dulu = USD145 x 3.3 (masa naik) / 159 liter = RM3 – (Subsidi) RM0.30 = RM2.70
Harga Minyak Semasa = USD92.7 per tong
Nak senang kira = USD93 x 3.45 (Rate semasa) / 159 liter = RM2 – RM0.30 (Subsidi) = RM1.70
Kita bayar = RM2.55/liter
Harga tanpa subsidi = RM2.00/liter
Kerajaan penaya kita = RM0.55 per liter.
Sekarang cakap siapa yang MENGANCAM ekonomi RAKYAT pulak?….
majuperak:
jolly_idiot already idiot maa.
drink jolly shandy too much.
wait le….
oh….! they can drop the price since hari raya is around the corner (as below)
Datuk Shahrir previously said fuel prices could drop before Hari Raya Aidilfiltri so we can “celebrate Hari Raya happier.”
Well, in this case i hope they’ll drop the price aswell for Deepavali & Chinese New Year too…..?
hope so, when they change government
Datuk Shahrir is all about talk cheap with no action! He’s already fool himself telling all Malaysian that the oil price will still escalate sky rocket to these days. Now…all I see is another dumb politician who doesn’t know what he’s doing or talking. I’ll only believe when I see it! BN is nothing more than a enterprise making fast money for it’s members benefit rather than a political party which fight for the good and the peoples benefit…what a sad sight! :-(
now everybody is busy politicking, no time to manage. Everybody talk.. campaign.
majuperak the internet blog police.
even paul is afraid of you now.
and jolly ididot, are u sure it’s Bxxx Negara?