Petrol price hike, again?
Thursday, June 30th, 2005 | 11:47 am @ SK
Rumours are so intense that you can’t exclude the possibility that petrol price is going to increase again.
Prime Minister Abdullah Ahmad Badawi has given a broad hint that the retail price of petrol could be revised because of the high price of crude oil. Quote:
"We have to make preparations, and if they are tough and a little terrible, we all have to be patient." […]
Earlier on June 27, Domestic Trade and Consumer Affairs Minister Mohd Shafie Apdal did not rule out the possibility of another fuel price hike, is monitoring the escalation of oil prices in the international market which had breached the US$60 per barrel mark. Quote:
"We have to wait and see (the price of oil in the world market)…the government is subsidising and this is putting (financial) pressure on the government."
He then continued by saying:
"High oil prices would obviously benefit the national oil company, Petronas, but the high revenue earned was not enough to subsidise local usage of fuel." […]
For your information, the government under pressure of escalating subsidies for petroleum products, last raised fuel prices on May 5, 2005. The price of petrol went up by 10 sen a litre and 20 sen a litre for diesel in an effort to reduce the subsidy.
The price of Petrol RON97 for Peninsular Malaysia is now RM1.52 while petrol RON92 is RM1.48. Diesel in the peninsula is at present RM1.08. The last raise in fuel prices before this increase was in March this year.
This time, the hike is inevitable. So do the long queue, I might as well be prepared to endure the traffic jam too.
June 30th, 2005 at 12:33 pm
here’s something funny my neightbour (she’s chinese) said, ‘itu ahamad ah….bila dia jadi PM ah….petrol naik saja…aiyaahh, susah la’.
lol…..
June 30th, 2005 at 1:06 pm
I think it’s worth pointing out that fuel prices in Malaysia remains one of the lowest in the region.
We see proof of this from diesel smuggling incidents up north; and our southern neighbours’ insistence on checking fuel gauges of vehicles crossing the causeway.
Of course, all this doen’t mean much when we still end up having to fork out extra money for petrol; but I believe we should be thankful that petrol prices in Malaysia are controlled, and do not change (read as increase)every day, the way they do in a lot of other countries.
June 30th, 2005 at 1:14 pm
I didn’t know that petrol price in some countries changed everyday.
Anyway, it’s understandable that why government being “forced” to increase the price, though I’m not sure what’s Petronas profits like, to the extent not able to sustain the international crude oil increment.
The impact is not huge to me personally. But, how about the impact towards Malaysia economic overall?
Any idea?
June 30th, 2005 at 3:15 pm
Thanks for the lead, going to the petrol station! Can save RM5 wor. Kiasu at its best.
June 30th, 2005 at 3:32 pm
LOL!!
This is Penang cultural, probably if I’m back there, I’ll do so.
LOL!!
June 30th, 2005 at 5:30 pm
SK - back in my younger days, working the night shift at 24-hr fuel pump / convenience store in Melbourne, I would usually get a phone call around 11:30pm each night, with instructions on what price to display from midnite onwards.
It’s no fun having to manually change prices on the giant “scoreboard”, and it’s even less fun in the middle of winter :P
June 30th, 2005 at 6:01 pm
Tiger,
Did you screw the boss for the ever changing price?
LOL!!
Anyway, just feel grateful! It’s already inevitable that the price hike is going to take place soon.
July 1st, 2005 at 2:49 am
to add up on wat tiger has commented…the fuel price in thailand, specifically in bangkok was around THB22.00 to THB23.00, which is approximatelly RM2.20 to RM2.30 per litre, as of yesterday. the price is changing everyday. as far as i concern, the fuel price is different from 1 station to another, though they are under the same brand name.
so i believe the situation in malaysia still under controlled and somehow juz hope the % of the hike within the affordable range…
July 1st, 2005 at 2:54 am
well said redman, so long it’s within the affordable range, it should be ok.
i think what malaysian generally concern are the implication of the hike towards the socio-economic development.
let’s keep our finger cross, all the way.