Shahrir: Another reduction in fuel prices could be possible end-October!
Minister of Domestic Trade and Consumer Affairs Datuk Shahrir Samad has indicated that the prices of petrol and diesel could be reduced again by the end of October 2008 as world crude oil prices were still on a downward trend.
He added that revising the price of petrol and diesel is easier now as the matter no longer had to be discussed in the Cabinet, but instead can be decided through a meeting of a few key ministers chaired by the PM. I think as earlier promised, we are slowly moving towards having a floating price for petrol and diesel that is revised twice a month, with potential to be even more frequent in the future.
The last fuel price slash was a couple of days ago on the 15th of October 2008. RON97 fuel was slashed 15 sen from RM2.45 per liter to RM2.30 per liter, while RON92 and Diesel fuel were slashed to the same RM2.20 per liter.
Interestingly, the minister also mentioned that the government cannot bring down prices drastically as it could have adverse effects in the supply chain, but it seems that they have no qualms about increasing it drastically as proven in the past.
I suppose he is referring to the petrol station operators suffer losses if fuel price goes down by a large margin while they still have stocks of fuel purchased at the old price. Even when fuel prices went up, they had something to complain about – the margin of profit for every liter sold which they claimed remained the same while the cost of fuel went up.
October 18, 2008 @ 1:16 pm
all are sweet talks from g..always got alasan..
neway good to hear the price will drop again..
October 18, 2008 @ 1:17 pm
BACK TO RM1.72!!!!
October 18, 2008 @ 1:22 pm
again another boo boo con story.like what paul said.go up no problem but when come down,plenty of smart alec excuses. Would an indent or float system settle the problem of gas station owners? Anyway it is good that the rakyat keeps the pressure on.it makes a difference. Difference is how much we get cheated.
October 18, 2008 @ 1:36 pm
how bout vpower.. is it slashed? last time i used to pump vpower, but now pumping ron97 cause petrol too expensive.. -.-”
October 18, 2008 @ 2:13 pm
Hmm, wonder when will they slashed the petrol price again, but wonder will the car loan interest rate will drop as 4.7% is quite expensive. Doesn’t the G consider of reducing the interest rate?
October 18, 2008 @ 3:13 pm
well they make some and they lose some.
As i speak to one of the petrol stations they will finish sale of the balance in 3 days or when they know the price is going down they will have to keep to minimal and so 600,000,00 liters in one oil tank so think how much they will lost if going to steep down and if its going too steep up they make more remember how much they make when the price goes up so much just pertol sale goes up RM 1 so they will make buta buta RM600.000.00 and if its goes down by RM00.10.They just break event for 3 days after all we pump the gas our self or self services If the petrol price revise weekly then is going to be a problem for the gas stations owner. Well there is goo and bad in everything.
October 18, 2008 @ 4:37 pm
I’m having serious doubts that petrol is subsidized. Hell I think we’re overpaying for petrol now. Go to oil-price.net and xe.com then find out how many litres is one barrel and then minus the so called oil subsidy. As of 4.50pm today, a barrel of oil is 71.80USD = RM253.404. Take 253.404 divided by 1 barrel which amounts to 117.35 litres, which equals to RM2.16 unsubsidized. After the 30 cents subsidy it should be RM1.86. In short I don’t care what bullshit they are saying, petrol should be at least less than Rm2.00/litre right now!
October 18, 2008 @ 4:46 pm
Paul, It’s true that petrol station operators suffer losses when the price goes down..
And when the gov announce at lunch time that fuel price will go up at midnight..everyone rush to the nearest petrol station for full tank, some even bring extra containers..causing massive jam through out the city..
And what do you think left for the station operators come midnight?
Sometimes it’s not fair to say they make fat money when the price goes up..
The gov people must think of specific mechanism in handling the fuel price..
Who actually make fat money when the gov announce fuel price to go up by 78sens/litre recently?
October 18, 2008 @ 5:28 pm
dodgeviper..u have to remember the rebate the g gives too =P
October 18, 2008 @ 5:32 pm
dodgeviper88 said,
October 18, 2008 @ 4:37 pm
I’m having serious doubts that petrol is subsidized. Hell I think we’re overpaying for petrol now. Go to oil-price.net and xe.com then find out how many litres is one barrel and then minus the so called oil subsidy. As of 4.50pm today, a barrel of oil is 71.80USD = RM253.404. Take 253.404 divided by 1 barrel which amounts to 117.35 litres, which equals to RM2.16 unsubsidized. After the 30 cents subsidy it should be RM1.86. In short I don’t care what bullshit they are saying, petrol should be at least less than Rm2.00/litre right now!
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Please note the quoted per barrel price is for crude oil. It need to be refine into petrol…
October 18, 2008 @ 6:24 pm
Can we get back RM1.92/litre? Will such DREAM come TRUE?
October 18, 2008 @ 6:59 pm
just maybe only…..nothing to shout about
October 18, 2008 @ 7:10 pm
elok ler tu turun… for all you know, before it reached back to RM1.92/ lt… price may went up again… God knows… hope that within the next 5 to 10 years, cars are powered with other alternative fuel already… then again whether we can afford to buy that car or not is a different question altogether!
October 18, 2008 @ 9:27 pm
i have no complains.. since we cant do anything about the pricing anyways, as long as it goes down, i’m happy.
October 18, 2008 @ 9:29 pm
when fuel price increase, electricity also had increased…
but when fuel price drop…. siapa ingat TNB lagi…
“orang malaysia senang lupa…..”
October 18, 2008 @ 11:39 pm
up down up down.
if only car taxes would follow this system. instead of remaining status quo. as well as the AP system.
but hey, if there’s cheaper price for fuel, i welcome it.
just forget about 1.92 per liter days, its long gone.
October 19, 2008 @ 1:13 am
Lets just all kick back and see what happens next. I love it whenever the Government bercerekarama or bersandiwara with their words and so-called ‘concerns’. The thing is, the people sitting in their big offices are more concerned of their own lifestyle. If things are reduced, they are forced to reduce as well and we Malaysians are the ones who are subsidizing the Government for their wealth and greed. Those greedy bastards sure know how to play around with their words and empty promises. But I would love to see the next round of pretrol price slash. How much ? This is the only question we must be really concern and be more focused on now.
October 19, 2008 @ 1:14 am
Don’t forget, we need to include the RM625 subsidy into the petrol price calculation.
So, just in our dream the petrol price will go back to RM1.92.
October 19, 2008 @ 2:43 am
my girl friend work in Domestic Trade and Consumer Affairs , ya her boss tell them “dont fill up too full of petrol” in this week , i think the fuel will drop 5 more sens next week.
October 19, 2008 @ 3:24 am
Interestingly, the minister also mentioned that the government cannot bring down prices drastically as it could have adverse effects in the supply chain, but it seems that they have no qualms about increasing it drastically as proven in the past.
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Funny la…! LOLX !
October 19, 2008 @ 3:29 am
i have no complains.. since we cant do anything about the pricing anyways, as long as it goes down, i’m happy.
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150% agree with u !
October 19, 2008 @ 10:20 am
eerrmmmm……. bravO Government !!!!!!!!!
hope they wld consider well on the amount of reduction …….
may be back to RM1.92….
October 19, 2008 @ 12:35 pm
I think its a floating mechanism with RM2.70 the max, so the government will be happy to make it lower, than give a sudden increase in the price
October 19, 2008 @ 2:57 pm
Today G always took STUPID ACTIONS …. what to do most of THE RAKYAT choose THEM to RULE the country again … BUT i think RAKYAT not STUPID anymore so THEM must do the BEST things for RAKYAT now if not …. SAY BY BY for incoming GENERAL ELECTION. Lets Show The Rakyat Power !!
October 19, 2008 @ 2:59 pm
GOOD!!! I hope they decrease till extremely cheap… If can down to RM1 per litre
October 19, 2008 @ 7:00 pm
well, we hope the price of food & necessities will reduce too
sometimes although the price of oil had reduced but the price of food & necessities remains the same.
the price of a teh is rm 1.10 in johor kulai now… do u think apek will reduce ah? no way man…. unless it contain Melamine milk hehe!
October 20, 2008 @ 8:03 am
hahaha… wanna know latest news?? the venezuela president want the quota of world oil production to be reduced so the price wont drop to below 50usd…is it rubbish idea? everybody here seems to have cheaper oil but they wanna increase it, greedy? the food price wont decrease lah… its the global effect.
October 20, 2008 @ 8:11 am
You see… its okay to affect the consumer chain, but not supply chain.
Damn, empty tank now, better taruk RM10 first…
October 20, 2008 @ 8:54 am
Yeah, I agree that the G is dragging its feet in reducing the oil price. Its has been weeks since the oil dipped below 100USD. Its annoying me when they reduced the price cent by cent, and thinking rakyats will love it.. I wish I could grab the G heads and give them some rounds of slapping.
October 20, 2008 @ 9:21 am
It is whether the gov is stand on our side or the supplier side…
I guess whatever end up, we are the one who suffer…everything so EXPENSIVE now a day….sign…
October 20, 2008 @ 4:29 pm
the price shud back to RM1.62 as the price is now +- 70USD per barrel….,when he up the price to 1.92 at 2006 the price is > 75usd perbarrel… ,now they jus enjoy the extra money ………
October 20, 2008 @ 6:55 pm
give us free fuel
October 20, 2008 @ 8:53 pm
WANT FREE FUEL?
ROB THE PETROL PUMP LAHH
SO NEGATIVE COMMENTS!
MAYBE THE G SHOULD NOT LET THE PRICE DROP BECAUSE U PEOPLE WANT FO FREE NOW!
October 21, 2008 @ 5:18 pm
no, he can save wasting all the tress used to print newspapers because he keep everyday say he might lower the price
October 21, 2008 @ 9:29 pm
Alhamdulilah, syukur. At least some kind of reduction, hopefully the Government will be able to reduce it even further down.