It was only last week that the Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad said that the price of petrol would revert to the old price of RM1.92 a litre which motorists had enjoyed before the 41% hike in June if the world crude oil price continued to dip to below US$72 a barrel.
At the time (October 10), the crude oil price was around US$88 a barrel.
Over the weekend, the world oil prices closed at a new 14-month low beneath US$70 a barrel, bringing its price to less than half its July record high – dipping to as low as US$68.57 a barrel.
Why hasn’t the petrol pump price reverted back to RM1.92?
Will this be announced tomorrow when Deputy Prime Minister and Finance Minister, Datuk Seri Najib Razak release his economic stabilisation plan to prepare Malaysia to face the world’s worst economic crisis since the Great Depression of the 1930s?
At least the criticisms of the Opposition in Parliament in the past week that Najib should have presented a revised 2009 Budget before the start of a parliamentary budget debate are bearing some fruit.
But will Najib table the economic stabilisation plan in Parliament tomorrow in the form of a Ministerial statement or will Parliament suffer another act of contempt and disrespect by the Barisan Nasional Government?
#1 by richard.wong8 on Monday, 20 October 2008 - 11:31 am
The highest price for Crude Oil was above USD$140.00/barrel. for every USD$10.00/barrel drop in price, Malaysian Government reduces RM0.15/litre. Simple calculation is…it has drop more than USD$70.00/barrel, meaning for every drop of USD$10.00/barrel multiply by 7 (USD$70.00/barrel from USD$140.00/barrel) = RM1.05 Therefor our petrol should be sold at RM1.65/litre!!! (RM2.70 – RM1.05)
I wonder during Mad Hathir’s time was RM1.92/litre & per barrel is around <USD$30.00/barrel, then I doubt there’s any subsidies. Must be making TONS of $$$
#2 by richard.wong8 on Monday, 20 October 2008 - 11:37 am
What about all the petrol station owners? They will go bankrupt if the Government never look into their problem each time the petrol reduces.
I can bet that BN will say the same old stale answers…….compare to other countries, we are still the lowest. BN think we are stupid or what. How to compare? Based on what? if compare with per capital income……we are the lowest!
What about those companies that increases their price? When will they reduce it? Well, what goes up, never comes down!
#3 by CSKUEH on Monday, 20 October 2008 - 12:49 pm
When petrol price rose up 41% at one go
The people reacted happily definitely no
The price went down bit by bit and lo
Back to RM1.92 when will it be so?
#4 by alancheah on Monday, 20 October 2008 - 12:54 pm
In our dream
#5 by CSKUEH on Monday, 20 October 2008 - 1:31 pm
Hopefully our dream comes true
#6 by max2811 on Monday, 20 October 2008 - 2:50 pm
The UMNO ppl are ‘great’ economists. They are last in their class. They were coached before exams when in unis(MaraWhatWhat). They are good in making threats and brandishing crooked knives. But when it comes to brains and making intelligent decisions, they are always last, bottom last. HIDUP UMNO!
#7 by sickandtired on Monday, 20 October 2008 - 3:21 pm
Sorry for the nasty remark moderator!!
#8 by ktteokt on Monday, 20 October 2008 - 8:06 pm
When price of petrol went up, it was 78 sen and its effect immediate. Now for petrol to go down, it took our EFFICIENT PM months to lower the price and it was done in “instalments”. We can only take it that these “blood suckers” still think they have not had enough of “blood” from the people.
And what is to happen to the price of commodities which had been increase due to the petrol hike? Do you reckon they will go down when petrol prices decrease?
#9 by cheng on on Monday, 20 October 2008 - 8:29 pm
Don’t forget, Msia had one of the highest car prices in the world, in fact it is the highest, if you discard small land area territories / countries (less than 1500 km2)
#10 by cheng on on Monday, 20 October 2008 - 8:29 pm
Msia also impose highway tol, etc
#11 by bclee on Tuesday, 21 October 2008 - 12:21 am
OPEC will cut crude oil production to push up oil price.
#12 by kyototan on Tuesday, 21 October 2008 - 6:38 am
Malaysia GDP depand very much on Petronas income. Lower in crude price means lower GDP. The Malaysian 2009 deficit budget should bring the nation to borrow should the GDP is lower than 3.5%. Cut all unnecessary expenditure rather than bring back the Number Forecast Special draw to generate more sin tax. Pak Lah your sincere effort to scrap the Special draw had been revive to further suck the rakyat. YB please try to question the reason for this revival of Number Forecast SPECIAL DRAW which shall start today 21/10/2008. The PAS MP so take this seriously.
#13 by Swarnabumi on Tuesday, 21 October 2008 - 5:21 pm
The reason petrol/diesel price cannot be reduced as fast as it was increased is that PETRONAS need the money to advertise in the media to show that they are “excellent” corporate citizen when carrying out their corporate social responsibility. Every year we see the PETRONAS drama during Deepavali & other festive. In reality they are just opposite. Why not advertise statistics on how many Indians are engaged by Petronas, stations franchised to Indians, scholarship for needy Indians, many how Indian children orphan homes being sponsored
Well I use to be a loyal Petronas station visitors. For the past 3 months I have not stepped into any of this “wayang kulit” corporation facilities. Petronas also must advertise the perks enjoyed by their staff for their ” hardwork” in ensuring Malaysians “enjoy” the cheapest fuel rate for an oil producing nation in this region.