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.
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Expected toll hike on January 1st 2008