Prime Minister and Minister of Finance Datuk Seri Abdullah Ahmad Badawi says there will be no changes to the fuel and gas prices in Malaysia for the time being.
“Whatever the present price, we have to live with it,” said the Prime Minister at the Invest Malaysia 2008 conference. Light sweet crude oil currently trades at USD 100.35 per barrel on the NYMEX. In a Malaysiakini article, the PM adds: “When we make the announcement (on fuel prices), it is hoped that the situation would have change.”
RM43.4 billion was spent in 2007 to pay for subsidies of fuel and other essential items. Can the government afford this? And for how long?