According to news reports, oil prices went past the US$90 a barrel price point yesterday, the first time it has done so since October 2008, and the recent surge has of course been responsible for pushing up the price of petrol and other fuels.
In the US, analysts at Wall Street have pointed out that with supply tightening, the price of crude is likely to pass the US$100 mark next year; as it is, gas prices in the US could reach a national average of US$3 a gallon at the pump before Christmas – it is currently US$2.958 a gallon.
Prices have been relatively stable for more than a year, remaining around the US$70 and US$80 per barrel mark. The jump came as the US Federal Reserve announced that it was planning to inject US$600 million into the US economy and the US Government laid out an agreement to extend tax cuts.
As such, the analysts predict that oil will hit US$100 per barrel sometime next year, with rising demand from China and other emerging economies further fueling things along. While current demands can be met by increased production from OPEC member countries, the situation after the next couple of years might see economic growth slowing down as energy costs increase.
The ongoing situation should push the EV and hybrid movement back to the limelight, especially in the US, where things have gotten a bit soft on that front after gas prices returned to well workable levels after the economic crisis dissipated.
Hope that the G can really improve on public transport.oil prices affect all of us.what to do
Nothing to do, malaysia ma keep wait wait and wait
ooo no…
ada potensi tak harga minyak di malaysia akan dinaikkan lagi dalam masa terdekat?
tiada yg mustahil di Malaysia az
According to PEMANDU, idris jala told that Ron97 will be revised monthky while Diesel and Ron95 will be revised every 6 months.
But history shows that the government will raise the price faster than they will lower the price.
history also tells that govt will first say no hike in oil prices but increase it a day after
Yeah~ you are right~~ =.=lll
even tho our oil price is already subsidized by them..
I think matter of time they will increase furl price again… Although after they increase 5 cents for ron 95 and 15 cents for ron 97.
What they really want is letting the fuel price to float, following the price in international market, and still imposing high taxes on cars…
expect another fuel hike then… now.. anybody want to compliment goverment policy on the Hybrid vehicles tax?
So, will our Government tonite after 12pm annouce price up another RM0.05/l??? or RM0.50/l???
more nonsense from the gov i guess soon
wat nonsense…it world wide oil increase..wat G do with international oil price?..nonsense la u bro
You really think the government got nothing to do with the price increase IN malaysia? When the international price went down to around 70USD this year, did they announce anything? Did they reduce the price of the petrol here in the country?
1 or 2 tahun lepas harga petrol turun from RM2.70 to around RM 1.80 lu x amik kira ke bro.. international oil price was less than USD70 that time after da previous oil crisis recovers.. now,da price steadily increase again over time..
n do u really think our G have ultimate power to control da international price???
You know how to say 1-2 years ago. I said “this year” right? And I also didn’t say the G can control the international price. I said “IN Malaysia” right? Aduhai…..
I’m ok if they want to float / market price without subsidy petrol IF the prices of the car are also at MARKET PRICE! (no taxes)
NO SUBSIDY ON PETROL , must be balance with NO TAXES ON CARS…FAIR PLAY PLS!
rossi46
if only the no subsidy on petrol affects only in automobile industries, i agree. but when that happen, pretty sure everything else in malaysia will be affected..
can you say, roti canai @ rm5? lol!
current market price is almost RM2.50 per litre. but many countries selling petrol much higher than that price. the price of petrol could change everyday in Australia, currently about A$1.30 (RM4) per litre for Ron98.
if we really open up our market, yes you get cheaper imported cars. but the cars might just parked in the garage / porch because the oil price going up every now and then. no more airconds because electricity will also went up due to higher cost of fuel to generate electric, and so on…
exactly. i think what rapbeal meant is that the government is definitely going to take this advantage to increase petrol price again.
I agree. Government shall open up the car market, and letting more high tech cars from Europe entering our market, something which is more affordable, but with high fuel efficiency, such as BMW 320D, with one liter of diesel can run up to 20km. If take current diesel price RM1.75 in Msia, the fuel cost per km shall only be RM0.0875 ( we round it to RM0.09 ).
I am sure everyone who drives a proton cars are experiencing that every single kilometer shall cost up to around RM0.20.
Ya.. you right..its absolutely nothing to do with G…its world issue..!!!
The increase in oil prices are signs of an improving economy. Do you want the economy to go down? Sure oil prices might go down, but then everything goes down, from the number of jobs available to your salary…
The problem with the majority of the people in this country is that their salary have remained stagnant while everything else increase. So if their salary don’t go up how to afford an increase of everything from Petrol to Sugar to Garlic?
While the people in the government get fatter and fatter every year. Will you ever find a minister with a small waistline ah? That should be a tell-tale sign already…..
if you think you deserve better salary, don’t stay in the same company lah!
go find new job. why blame gov if your boss don’t want to increase your salary?
MZ is talking about average income per household which is very low compared to the living costs…..he is thinking for the general public….
U’re from MoFaz group mah…of course ur salary high la…..
talk nonsense.. u sure know that most govt staff salaries is much much lower compare to those in private sectors i.e doctor, engineer, architect, accountant, manager, businessman, banker, contractor, directors, executive etc… don’t just simply accuse ok..
n by all means please list down all da minister who have a big waistline with approved facts!!
why not all of us control our spending instead of just complaining.. i can see many complaint on price hike but at the same time can afford to buy iphone/ipad/blackberry etc..
MM,
How many people you know work in the government? I have friends in the government….from Doctors to Pharmacists to Engineers. And you know what they all silently admit? They are OVERPAID…yes, that’s right: OVERPAID! The salary they earn vs the work they do is not justified.
Control your spending? Seriously? Who are you (or any ministers for that matter) have the cheek to tell me to control my spending when the governement spent 66 million setting up PEMANDU? What about the new building project? What about PKFZ?
No wait, are you actually a minister in disguise? Pfftt, it figures…..
i’m an architect working on private sector..and i’m under paid!!! My wife work as engineer in gov department. She is well paid but still to me not enough yet.. Salary in malaysia are not enough compare to what we need to pay and how hard we work… Just change the system and government perhaps, i’m bored oredy.. enough said.
You got better solution? Opposition leaders got any alternative? Stop the bashing and start contributing.
Dr M pertikai keperluan beli pesawat pejuang baru
http://www.malaysiakini.com/news/150281
Yes, Mr JamalPakTongko…
we all want to stop bashing and start contributing… can we also have more “workers” and less “talkers” in the Govt pleaseeeee…. that way we can have less civil servants and reduce our taxpayers costs to maintain them or their lifestyles…. more politicians with integrities, and less politicians like “Khir Toyos”…. that way, the taxpayers suffer less “leakages”….
remove the subsidies on petrol, sure why not…. but please also do remove the high taxes on cars too… so that we don’t have buy cars with 7/8/9/10 years of financing burden, how about that??? Can you provide that for all Malaysians?
the problem with our average M’sian is that they/ we, believe that the solution to all our problems is ‘out there’- the concept that some one should hand out the solution on a silver platter with us not needing to contribute in any way at all towards finding that solution , and that the solution to (whatever the problem may be) must behave like a silver bullet-one shot and works like a charm.
we lack the will power to look inwards. we are all MALAS. Part of the solution lies in our hands.
sure the world’s energy prices will continue to rise, but what are we as individual M’sians contributing towards reducing the impact????
anyone here actually –
-remove any and all unnecessary ballast/ dead weight in their vehicles
-keep their vehicles in well serviced condition,
-with correct tire pressure,
-drive with the windows up when cruising above 60kmh, or windows down when cruising below 60kmh especially at night,
-keeps engine spinning below 2500 RPMs
-use solar film to reduce heat from the sun instead of relying 100% on air-con,
-plan their driving routes using the shortest possible route at the least congested time
-shutting down their engines while waiting for, and when on board, a ferry (this applies to Penangites)
anyone??? i know i have, and i’ve maintained a constant consumption with my HL auto Persona between 6.7-6.9L/100km (14.7 KM/L or +- 34.6MPG) – which is good for me.
how about our life styles? how many of us here actually do what is necessary to reduce energy consumption at home? how many of us here actually do recycle? how many of us here take the trouble to grow some of our food at home? how many here collect rain water for gardening use? how many here produce their own compost for gardening use?
the point I’m trying to get across is that the solution requires ALL of us, as a collective, to make serious changes to the way we live. because the solution does not lie totally in a machine or a policy by the G… its not ‘out there’, a big chunk of it is in our hands, its us doing what needs to be done at all cost- IF YOU WANT THE WORLD TO CHANGE, THEN YOU MUST CHANGE.
imho, removing at once the taxes on car will only causing discontent from people. imagine one person buying car at rm 50k and the next year the other person can buy that same car at the price of rm30k after the taxes has been removed. who will pay back the taxes that been cut to bank. G? like hell they will do that.
slowly lessening the taxes is the appropriate way, in my opinion. or better if they further improve the public transport.
How many litres in 1 gallon? There are 3.78541178 liters in one US gallon. 1 gallon = USD3=RM9.30. 1 litre in US = RM2.46. In Malaysia Ron97 1 litre=RM2.40. Haiyaa…Kena tipu all Malaysians lorr..
This month Dec RM2.30, while next month/year in January sure RM2.40.
That price up there is not for Ron97…..keh,keh,keh
Yes and some of them also still retaining their mentality too.
You think any Gov can change you into a richer person.
If you want higher salary,work hard for it
Do some part times job,is that so hard
Money doesnt fall from the sky.
Unless someone willing to drop his/her money from the sky
You should ask all the billionaires,how do they earn a lot of cash
They work hard for it.
This is one of the biggest problem in Malaysia(or at least in this site)
People keep complaining about the gov
What do they do for Malaysia.
They still throw rubbish wherever they want
They still smoke a lot although they know they will waste a lot of money on it
They still wasting money on expensive foods,branded shoes,etc
That is in USA,you should check out the price in Europe
You think all the price of fuel in this world is the same as the price in the USA.
Ha,this is so typical.
If wanna bash also bash-lah secara global.
Don’t just compare two country.
hello mr azrai.. pandai sangat dah ke..? siapa pulak yang kata tipu..
Pemandu said RON97 will be ‘exposed’ to world market price, but the price is still controlled. the price of RON97 will be reviewed every month, instead of changing it everyday like the world market price.
The g always says that our petrol price is the lowest in the world. So kena tipu maa?? Think deeper.
no. i heard they only said that our fuel is the lowest in ASEAN REGION.
you sakit telinga ka? or you kene tipu with pembangkang maa? LOL
nope, i only heard they said we have the lowest price compared to many other asean countries, including indonesia, thai, & philippines… those ‘poorer’ countries are paying more for petrol than us.
How much petrol do you get in one litre of Crude Oil? When you process crude through fractionation in a cracker, you get kerosene, petrol, and residuals like tar. How much electrical power to produce petrol? You don’t just turn the tap on a barrel of crude do you? How much do you pay for transport of Dubai crude to Melaka/PD?
US “regular fuel” uses RON 91…
If you have the love or the need or could afford hybrids or EVs or both, buy them next year onwards to save both the environment and your wallet in the long run, so you won’t get affected even if fuel prices continue to rise.
wait till new year..
how much it will be increase…
Price hike means profit hike for Petronas but also means burden hike to people.
their cost also go up larr…..
so meaning the petronas staff won’t get those whooping 7-8 months salary bonus anymore? haha, pity them
this is the side effect when governments of the world prints money out of thin air. USA printed $600 billion last month. remember Badawi did the same thing when he handed out free money for those with small cars when petrol was RM2.90 per liter back in 2007/2008?
nothing is free, we reap what we sow.
Back then, it was RM2.70
ALAMAK….. it keep increasing …..
G needs to take an effective measure on how to counter the price hike of oil. Need to think carefully before a decision is made. We hope that no flip-flop policy from G again since this will be quickly manipulated by opposition side.
A lot of Malaysians do not understand that when we deal with a world wide used commodity, we are affected by production and demand. Winter months in the northern hemisphere has always been the peak season as energy is used for heating. We never get used to this globalization as the Government shelters its effect in subsidies. As do most governments in different parts of the economy.
People also don’t know that the oil price is using USD when it is produced outside of the US. Since March this year, the USD has gone down by 30% against the local Ringgit. While it is produced in Saudi Arabia (mostly).
A lot of OPEC countries will not produce more oil if the price does not increase. The price increase is a combination of reduced value of the dollar, and the increase in consumption.
Go back to the basics of supply and demand. If we don’t use it, we will not be affected by it. Either that or let trading of Oil be in Dinars or a more stable datum.
EV on the way…
i must find alot of mineral bottle. good invesment for future than fix an gold ma.
hope G will consider the 100 storey building project for time being la.
Gov is not funding the project.
Its funded by the gov indirectly. The funny thing is that funding 100 storey building will create returns for the gov while subsidising petrol does not. Yet all of us are bashing the 100 floor building as a waste of money. If the 100 sfloor building is a waste of money so is subsidies.
Don’t get me wrong though, the 100 floor buildings might cause other problem other than taxpayers money and I don’t recommend it too. Maybe cause I think the twin towers is awesome!
yup, you are funding it thru your asb money. even then, just coz it can be built should it be? downtown kl is already very congested, and that is why putrajaya was conceived to aggregate all the govt departments in a new area away from kl to minimise time lost to traffic congestion.
anybody wanna complain G raise ron97 price again?
Hahaha…lets them complain to Barack Obama..!!… Dr.M say ‘Malaysia people want good & quality product/services but want to pay cheap’ …that’s Malaysian mentality..how to maju
there is no easy way out when u get our oil price/commodities being price in toilet-junk USD$; question is how will the government deal with the fluctuation of foreign reserves and our oil priced being denominated in USD$ ?
everytime the dollar gets depreciated; oil price will go up even though real world demand has not really gone up; couple with minimal crude oil price speculation; it is high-time not just the government but our central bank manages this problem.
the economy is f****ing weak with recession knocking on our doorsteps and the government continue to flounder on such an issue. how pathetic; we should have our dialogue with OPEC very soon to solve this problem.
Iraq and Venezuela has questioned this issue months before. But Saudi Arabia, being allied to the US since they kaotim in the 70’s won’t budge. Its all about Petrodollars. The US will not see a repeat in the 70s when huge amount of dollars went into the Mid East. A month ago they just sealed the biggest deal for supply of Miltary Equipment from the US. Coz they know that the real money is not in greenback. Barter trade still lives on.
Price increase.. petronas will lose money.. that’s why G can’t subsides anymore..hvae to increase the price..
what nonsense are u talking dude..when global oil price increase, petronas profit will also increase bcoz they sell oil..duhhh
and u think crude oil comes free….their cost also go up la…..
Yo Anthony, are you sure it is 600 million USD not 600 billion USD?
That’s a huge amount of difference you know.
its USD$600 BILLION…with the B..not M..
yea all this price hike, price per barel, and convenient introduction of EV / alternative energy cars is to boost the sale of such cars?? big big conspiracy?
*walkiing to BMX bicycle shop for a purchase…*
Our friend at Petronas must be rubbing their hand now……Fat year end bonus coming up ^_^
I hope it will hit USD 150 perbarrel soon so our road will be clear & weekend is traffic jam free ;P
nope, price for oilfield services has not came down since oil price was USD 140 per barrel last time eating into profit at time of low oil price…so no it’s not going to be a big fat bonus unless the oil price go up to like USD 200 per barrel..
such a shallow thinkin’…
you don’t think other goods prices would go up as well?
/don’t be selfish!
and u think crude oil comes free….their cost also go up la…..
this sounds like sting the G will say…in order to justify the next price increase….as a matter of fact..most G hav contingency plans to curb rising esentials like oil,rice,sugar etc…bt our G seem to pass any increase in price to the people…
This might hit the bigger cc cars very soon.
Inspira? too early to tell : )
where’s my hybrid car when i need it
Change to hybrid car, thats my next target, what happened to Ngv?
one of the world’s most famous “oil men” idris jala always said there is no oil shortage in this world due to so many oil tankers still carrying oil. It’s pure speculation by hedge funds.
coz now the world economy has improved a lot, hedge funds becoming daring again and causing much misery to consumers.
somebody earns but at d same time somebody looses. this is wat “makes the world go round”. I can’t really imagine if every1 wins, then who looses? like in accounting, “ada debit mesti ada kredit”
do what you can and no point complaining about the fuel price.
no matter who is the G and where you are, one sure thing is price of fuel will increase. we either find ways to earn more or if not, to use less & be more efficient.
Back to the ground, I think we all suffer all this, scared of fuel price increasing, I think is still due to the faulty NAP, which make everybody suffer. I think, if car price can reduce, and the market can be open up, and of course G bring in better quality fuel, I am sure every body will be having a better life.
Look at your monthly expenses, I think shall be up to around 30%of your salary are paying for car installment..
why do feel i like “i dont care”!…..
because you’re rich?
because you riding bicycle??
ok,,,,i dont mind that gov want to do pelarasan harga again … but i am disappointed with public transport situation …. i know they have plan for greater KL public transport …but do gov have money… why dont just start with bus first….
Expect another round of increase across the board soon… most likely by CNY.
We all can afford open market petrol price, even at RM3-4 per liter.
But first abolish the hidden car duties, taxes which is killing most of our disposable income for those taking car loans.
For eg. Pesona at RM30K instead of RM55K means RM35K robbed from you by Proton and govt, which you can use for nearly 6-8 years worth of petrol expenses.
Not only we all being ripped off by the Proton protection hidden car duties taxes, it’s all been factored together in your car loan interest rates which means double-taxation or interest on taxes. In all fairness, car loan should exclude interest rates on car duties but on ex-factory prices. If not, using the current car price it should be zero-interest car loan rate.
Petrol is scarce resources and sadly only open market price is viable mechanism for efficient distribution or pay per use. And efficient use of petrol require fuel-efficient car. And sales of fuel-efficient cars should be more encouraged and deserve similar tax breaks just like hybrid cars recently (zero car duties). Or at least limit the car engine capacity of below 2,000cc (petrol or diesel) with strict carbon emission test (CO2 gram/km), fuel efficiency test (km/litre) to be given such tax breaks. Above that then govt have every reason to put king’s ransom price for such fuel inefficient, unnecessary luxurious cars.
So what’s the direction now:
Petrol price (expensive or subsidised) / Car price (open market or artificial).
Expensive petrol but cheaper open market car price?
Subsidised petrol but artificially inflated car price?
Agas you should know very well big margin of $$$ into G’s coffer is from the ridiculously high taxes imposed on cars. Do you seriously think G will open market for car price? That won’t happen anytime soon, or not at all.
Bloodsucking rakyat’s and G’s coffer $$$ is the actual politicians hidden manifesto when they run for election.
Too much corruptions…
What we have in Malaysia:
– Soon to be 0% subsidized petrol, despite we have Petronas. No longer need to feel blessed with our country’s natural resources ie petroleum, cos sooner we aren’t getting any share of it anymore (in the form of subsidy)
-Super ridiculously high taxes imposed on non-national made cars. Even CKDs don’t come cheap too.
-Property. Let’s face it. Freehold properties are really getting hard to get a hold on these days. Nothing to shout about in relatively cheaper property price in Malaysia.
Despite all these, G never take full advantage of the $$$ to improve our stone age public transport. All the $$$ in G’s coffer, is not properly utilized to develop our country.
We all know where the $$$ goes instead…
Insight at rm98k sure looks attractive…btw, how abt giving same tax break to green diesel.
Dammit, economy up, we suffer, economy down, we still suffer. Really dunno what to do.
waiting for proton’s reev..
Oil has a significant impact on the rakyat. 5 cents increase in petrol has a 50cents increase in everything else. The domino effect is great.
Reducing car price will only help those who owns a car. To the rest of the population who manage an income of RM600/permth suffer the greatest.
To float the oil price is technically impossible and the government knows it. This contributes to the down fall of Pak Lah. I’m sure Najib is well aware of it and election is just right around the corner. Najib can only risk a few cents increase but not a major one like Pak Lah before.
Before even thinking of floating the oil, they should think how to plug the leakage. And the leakage is there for so many years and i’m really in doubt they will act on that.
sistem dajal
I don’t mind if gov want 2 fllw d world oil market… but pls abolish cut throat cars duty, NAP & cars AP as well, (AP holders sell cars at duty price).. we pay for an arm & leg every month for cars instalmen.. msian mau makan apa? makan batu?
This oil market caused by greedy speculation by OPEC… hope d auto techonology transition wud be faster.. let d OPEC countries learn a lesson…
Talk is cheap dude…
Have you think bout the other road users who only can afford to buy cheap cars or motorbikes? How they going to pay for the fuel then? You think you can afford if our fuel is priced @ RM3.5 – RM 4 per liter? Please think before talking dude. Have you done your maths? I believed the amount you paid for Petrol in the end of the day will be more than how much you paid for a ‘TAXED’ car.
well maybe those ppl should not be driving then?! live within your means!
Please…some one make nuclear reactor that can fit to my engine bay!
some ppl said they are ok for gov to remove subsidies for petrol and float it with market price if gov abolish the tax for cars and open up auto market…
but have you all think…. if car price go down, do u think price for any other things will go down too? will roti canai and nasi lemak will be cheaper if car no more taxed?..
and think once again.. if petrol price increase, what are the possibilities of other price will increase? do you think roti canai and nasi lemak price remain if the petrol price increase?
Have you taken into consideration, the savings you will get just from car loan reduction alone (I’m not even touching other kind of reductions yet).
No more burden of 9 years loan (you can actually buy your new car with cash or with very short term loan), no more tin milos (danger to drivers and other car users), no more non-efficient fuel guzzlers (yes, fuel expensive, but we compensate with hybrids or with better engines with cheaper price and its worth it).
And most importantly no more protong sampah!