Based on the average monthly fuel price so far, Datuk Shahrir Samad has indicated a probable reduction in petrol prices of up to a maximum of 12 sen by the end of October 2008. If the maximum of 12 sen reduction is achieved, this would mean RON97 fuel could cost RM2.33 per litre, down from the current RM2.45 per litre. This maximum drop is possible if crude oil prices average out below US$104 per barrel.
Our petrol price is dependent on two factors – the price of crude oil itself and the exchange rate between USD and MYR. Datuk Shahrir mentioned that at current exchange rate prices, oil per barrel has to be US$72 for a RM1.92 petrol price. If we want to enjoy a RM1.92 price with oil costing more than US$72 per barrel, our ringgit instead needs to appreciate against the US dollar.
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Use RON92 and stop complaining.
RON92 petrol works OK on my RON95 required savvy…now only paying RM2.30.
12sen? i think he must be wrong in calculation if based on current world oil price!!! maybe at least 20sen. RON92 works ok for Savvy does not mean work well for other cars. We should always deserve more!!!
ermmm. despite the financial crisis in US our ringgit is shrinking against US dollar. something wrong here!
Paul, even if the crude oil further drop to USD 72 we still can see the ringgit depreciating, how to drop to 1.92? they have to fix the economy before we can enjoy a better petrol price. the question is how do we break this vicious cycle?
but the ringgit is depreciating against the greenback..exactly 30days ago used to be rm3.425…..today is around 3.490
cmon la, why not 15sen?
I’ts not about weakening rinnggit…dollar is getting stronger. inventors funds all shift to dollar from crude oil…back to square one.
one more thing, the fuel rebate was the super idiot decision preventing us to get better fuel price. so for those who got the rebate , did u save your money for the petrol or did u spend it for another lavish spending?
hi hypermount ,
really its the ringgit weakening ,
“Sept. 4 (Bloomberg) — Malaysia’s ringgit, Southeast Asia’s second-worst performer in the past three months,
source: http://www.bloomberg.com/apps/news?pid=20601087&sid=avjWue5eZMTE&refer=home
hypermount,
one more thing why would investors shift to dollar from CO? i tot everybody want to sell impending collapse USD?
See how the fuel rise has affect our cost of living? I’m yet to see any price reduction in our daily essentials after they were raised following the fuel hike.
Investors flocking to US dollar..thing might be worse in Europe instead cos of the one currency for all , they’re gonna get the brunt of it cos they don’t have any mean to control it as last resort.
http://www.ottawabusinessjournal.com/292795551891183.php
US dollar strengthening
http://biz.thestar.com.my/news/story.asp?file=/2008/10/7/business/2203439&sec=business
as of today, it is 3.5519 in forex…rm drop like hell against usd
everything else fell except for YEN to day – cos of strong USD
Petrol price is reduced, how about electricity bill, engine oil, etc. Not even reduce a single sen?
WHAT R WE WAITING FOR?
LET’S VOTE FOR ANWAR!
Datuk Shahrir, cepat2 reduce the price..at least 30 sen.
I DONT LIKE ANWAR !!!
nyte_skater said,
October 11, 2008 @ 8:18 pm
cmon la, why not 15sen?
————
Round up round down?lol
Well, cost of powder slightly reduced due to Melamine?lol..
‘It’ did not foresaw the effect of increasing petrol price, well, now they see it.
Do the maths, it does not make sense. Mr Minister, please show us the calculation / formula. Please stop taking all the normal people for a ride…crude is now below USD80.
Also, Mr Minister, please lah, send some people to Singapore and Thailand and do a “lawat sambil belajar”. hopefully you can benefit from their years of experience in managing a floated system for fuel.
Kalau tak tau, just say “saya tak tau” stop messing with our lives and along the way showing your own stupidity and incompetence.
In Malaysia, ANYTHING IS POSSIBLE! They are possible because, things are always easier said than done, plus in Malaysia, all the possibilities we get come from those who are playing chess, with the rakyats’ lives on the checkered boards. They just simply push us around, buat macam orang bodoh aje.
Decrease by another 12 sen is a good start. But why don’t round it up to 15 sen instead, or if they are more generous, a healthy, smile inducing 20 sen ? Yeah, I might be able (again) to save a few ringgit just to be able to enjoy a better breakfast or lunch. *yawns*
9166
our system is based and nearly identical to sg, apart from rebate (which i use to pay car insurance + road tax) + 30 sen subsidy. I like this rebate and wish it to be continued!
Malaysia Boleh!!! When world petrol price increase, up 78sen immediately
But when decrease ,only little bit…What is so difficult to subsidised the petrol which is taxpayer money since they spent so much on ((Angkasawan and many useless project,corruption)&&( always compare petrol price with which dont have a drop of oil at all)).. Finally,people suffer but those minist still enjoy their privilege life!!! Come on lah, go on to support PR next g.election.
i smell the corruption is in the air again…
wen thy put the price up….thy say bcos oil in oil market is up…fair enough…now thy want to reduce…thy dowant to look at oil market anymore…look te ringgit appreciation!!
wen thy raised it…oil was at $145…now its $83……almost 50% down…
hyperrmount,
thanks for the link. I guest there is some role of pegging to save our domestic economy?
Kimi_said
oh yeah? we will forever doom with subsidy mentality
Now, I think the government want us to subsidies them.
Too bad. :(
Why I am not surprised even the slightest?
Because monkeys continue eating banana, which is no surprise at all..
Damage is done when we are axed by 78sen.
Due to the strengthening USD? ARE WE IMPORTING CO FROM US OMFG.
prices are still not going down, so not much difference there…
crude price up… we suffer… price down also we suffer. when crude go up… cannot wait to increase petrol price sky high.. when price down… so siput like to reduce the price
stop bull sitting people dear Shahrir. we make more when ringgit is down against dollar because we are oil exporter. previously we get rm3.1 per dollar now we get rm3.5 per dollar. Simple maths also dont know.. how u can be minister of this boleh land?
The damage is there. Even today they reduce back to Rm1.92/litre. Will the price of food, livings, travelling, etc etc will reduce back again? NO! We rakyat end up paying more for less. What kinda G we have that can’t even think?
Reducing 12sen is like big bucks. Expect we rakyat will appreciate and thank the G for this. If there isn’t a raised on July. Today we still deserve the price of RM1.92/litre! and our cost of living won’t be this bad. Should we thank the G for this 12sen?
I think it has been very clear that we want people who has the knowledge to run this country to benefits all the people regardless of races. Sadly over the past years, politicians has used this strategy to physco many races people. The country was rich then, and many problems be able to cover up. But we are facing a global economy challenges, and I have doubt a guy with a non finance/economy back ground able to handle such country? We need engineer to do an engineer job, we need artist to paint a good picture, and now if our country’s management team (all those minister) is not capable to address the problem, will the Malaysia Ship able to keep sailing? Our country is in a crossroad whether we are either going to improve, or going back, since the globalization is eating us up without any mercy. Do you think the foreigner give mercy whether you are Chinese, Malay or Indian in doing business? and the more our country is diversify, the easier for us to break down. If the Gov keep on current form, I think within 10 years, it does not matters who is the PM (this is what everyone is fighting for now). Our country will be eat out by stronger countries. Until today, I still dont understand why as big as our country, and so many natural resources and tourism, Malaysia is view under Singapore. I mean, did anyone think about that? We are so diverted from the main problem (the economy) to the race issue (which is stirred up by the politics anyway). We are Malaysian. Only be together, we can compete in this globe, not only with SEA or Asia. The problem now, we dont have a competant CEO that not only raise issues, but provide resolution. Thats something everyone forget, to provide resolution than raising issues, that most current MPs failed to provide resolutions.
Have a mechanism to decide the petrol price daily, weekly isnt impossible. It’s the mindsets and agendas behind all these doing. Why do we actually need them to tell us when will be the next revision and how much and so on and on? This isnt productive neither is efficient at all. They should divert their attention to many other things that urgently need to be fixed, like the deteriorating safety in the country, poverty and even stray animals. In Malaysia, price always going up especialy those uncontrolled items. Ever since the price of petrol jumped to RM2.70/L and now reduced to RM2.45/L, has price of those that increased giving the excuse of petrol price increased reduced accordingly? It’s greed that filled these ppl with. How many cars they owned and how big the houses they stayed? The next time when you drive pass a bus station, just look at the ppl waiting there for buses, they deserved the attention of a real caring Government. And these very ppl might be staying at a room that’s no bigger than those rich men’s toilet. Greed will destroy the world we stay. Electing ppl to seat on position that command lotsa power but know very little bout responsibilities is as good as putting a kid at the driving seat behind the steering wheel of a bus carrying full load of passengers. Will you do such thing to yourself, your loved ones, your friends, your peers and the country you grow up with? We should do what a responsible citizen should be doing – voting the right ppl who care bout every citizens in the country and doing the right thing for the very 1st time every time.
watever