Wednesday, October 29, 2008

Govt to make U-turn on pledge of pegging petrol price to global market price?

Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad yesterday began testing the ground sentiment on the plan to fix a minimum price for petrol, even if the global oil price continues to plummet. His idea is to fix the price at a minimum of RM 1.92 and maximum of RM 2.70.

This is despite their earlier pledge in August to strictly follow market price with 0.30 cents subsidy per litre.


  1. They think we are bloody fools to toy with.

    Since there is no more profits coming in for Petronas they want to collect that from us. Not only they tax us, tax our cars, toll our roads, tax roads and now they want to tax the oil as well.

    Also why are the few oil suppliers a concern for them instead of the rest of the 27million Malaysian? Where were these petrol station operators when the oil price shot up? Some sold but I have also seen some close shop to keep the rest for the next day so they can rep in huge profits.

    We are one of the few countries that are run by morons with SPM certs and dupe degrees.

  2. Is Sharir aware that petrol is USD1.99/gallon in USA? 1 US gallon is 3.785 litres. Guess what? Petrol in US now is RM1.84 a litre at exchange rate of 1USD=RM3.50. And what is per capita income of US?

    Sob sob... Too bad I am not a rich as any of the cabinet members and MP or ADUN. 99.9% of Malaysians are not better off than MP, ministers and ADUN.

  3. A pledge is a pledge. I will still judge Sharir by his comment that govt will bring down the price of petrol to RM1.92 if oil drops below US$72 per barrel. Now I want to see how much we will pay for petrol if oil drops further to US$30 per barrel. It's very possible even within this year with 60 days to go! When the price of oil goes up to a record US$147 we don't get any benefit as a producer, then we might as well benefit from lower oil prices. Are we subsidising petrol during the low price years when oil hit US$20 per barrel. That was at a time when our ringgit was around RM2.50 to US$1. I am no economist. Maybe those experts can shed some light.