The Malaysian Institute of Economic Research (MIER) forecasts a petrol price increase of between 30 to 40 sen after the general elections, based on rising costs of fuel subsidies which have amounted to about RM35 billion so far this year.
This will bring petrol prices up from RM1.92 to RM2.22 or RM2.32, depending on a 30 or 40 sen increase. According to MIER executive director Professor Datuk Dr Mohamed Ariff Abdul Kareem, consumers would be okay with a fuel price hike of up to 40 sen, but not any higher.
A Perodua Myvi’s 40 litre fuel tank would cost RM92.80 to fill up with a RM2.32 per litre petrol price, compared to the current RM76.80. Assuming 5 fill-ups per month, that would be an extra RM80 every month to pay for petrol. The cost of motoring will also be hurt by the expected rise in toll prices.
Read more at the original source.
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Expected toll hike on January 1st 2008
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AI-generated Summary ✨
Comments express skepticism and frustration about the proposed petrol hike of 30-40 sen, quickly pointing out that even small increases have cascading effects on the economy, such as higher prices for food and transportation. Many criticise the government for allegedly mismanaging revenue from oil exports and for excessive spending on projects like the Monsoon Cup, which they see as misappropriation of rakyat’s money. There is concern that the hike is a pre-election tactic to divert blame, while some suggest promoting public transport and alternative fuels like NGV or hybrids as better solutions. Commenters also highlight issues like toll increases, corruption, and the lack of genuine government transparency, emphasizing the need for voters to be vigilant and to elect responsible leaders for meaningful change. Overall, sentiments are largely negative, with warnings about worsening cost-of-living and government mismanagement.