PUTRAJAYA, Malaysia [1]: A government minister said Wednesday that Malaysia would raise its gasoline prices 40 percent.
The trade and consumer affairs minister, Shahrir Abdul Samad, said the government would also give a yearly cash rebate to owners of small and medium sized cars to offset their burden from the huge hike.
Subsidies have kept price of fuel in Malaysia among the lowest in Southeast Asia. But the government says it cannot afford to fund the subsidies any longer.
Shahrir told reporters that the price of gasoline would go up from 1.92 ringgit, or $0.61, a liter to 2.70 ringgit a liter.
He indicated that the price hike would be almost immediate and that further increases were planned.
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4 comments:
Crude inventories in the US down 4million plus barrels, and yet Crude is down in the markets.
This means either :-
- The statistics are wrong/false
- There really is a shortage of production(supply)
- There is some hoarding of crude
- The Crude prices has a whole lot of speculation.
Somehow i feel this is the calm before the storm.
I read about Canadian Oil Sands in Alberta. With 3 times the reserves of the total Middle East nation. Is this real. Oil Sands?
Hi Boon, I wrote my opinions on today Malaysia petrol price hike in my talkonlymah.blogspot, can share here?
"... The price hike came sooner than we could say "shit". As anticipated, in most of the online chat / trading communities, many now blaming the government, making emotional comments, irrational remarks, and etc., but almost none is taking his/her position in a constructive manner.
"The cars nowadays just get bigger and so are the fuel tanks, and we are doing well and wanting to upgrade our cars every one and then. Never mind fuel prices. We have goman to take care of that," Does this thought ever cross your mind? The price hike is a wake up call to most of us. We have been enjoying too much cheap fuels, so is to cheap labors, now we are just paying the real prices (almost). We have been laughing at Bolehsia's Tongkat Policy. So what now? Crying out for we need subsidies? We can't have double standard, can we? Life goes on. Think of a way to reduce our living costs."
yeah, can sense many want to stone me already.. wahahaha.
Opine,
I am bad at making sense of the official numbers, and they are manipulated numbers anyway most of them time. I don't pay much attention to them.
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