Rumor has it that petrol price will increase 20sen/liter 01/01/08, and this news will announce after 10:00pm 31/12/07 So, hurrrrrry to pump today!!! Even if it is not true, you won't stand to lose anyway!
I saw many queuing up from my way back from dinner. Didn't bother. How much can you save anyway, 8-10 bucks? Eh, 8-10 bucks... So, true or not?
Yup, this is fake. No news reported. I didn't believe at first. Oh well. We still need the petrol anyway.
petrol price hike was a fake, but last night petrol sales hike surely a fact. petrol station owner must be smiling...
Yeah... Looks like it was fake. But the rise in petrol price is inevitable. For me, it was worth it as I was already out.. and pumping then would save me at least RM 8-10. And that's for a small increase of RM 0.20 per liter. IMHO, I actually thought that was a low hike. I expected something like RM 0.60 per liter.
I agree. The government is losing way too much money in stupid projects and sending people to space. They need the extra money. Obviously, we would have to pay for their stupidity.
Matter of supply versus demand. Demand has increased tremendously in China. Output can only be increased so much. So oil prices will definitely rise.
it's a good thing that they're planning to remove the subsidies slowly to be honest, our economy's been distorted by the artificially low petrol prices for too long now do note that at the time of the last fuel price hike, the price for oil on the markets was USD 60, and that the government was still subsidising the price after the hike. The price passed USD 100 yesterday and is now around USD 96 again. Even accounting for the appreciation of the ringgit against the USD, the fuel price has increased by 35-40% see it this way, when we become a net importer of oil, you pay for the subsidies through your taxes anyway. I know i rather higher fuel prices and lower taxes, because i'll end up subsidising the rich who use more fuel compared to the poor if i choose to pay for subsidies.
Market analyst is saying it will come as soon as after the looming elections. And it may be as much as 0.60 to RM1.00
Actually, removing the subsidy isn't the crux of the matter. If the economy is doing well, our tax money is being put to good use, the people wouldn't care even if we are NOT getting any subsidy. However, with our tax money being used for all kinds of nonsense, including lining the pockets of our politicians and our friends, the fuel subsidy has become a contentious issue. It's the only way to get something back from the government. Like it or not, the oil money belongs to the COUNTRY, not the government. This means that as joint owners (in a sense) of the oil in our country, we deserve to benefit from it, whether it's in the form of free services or low taxes. The fuel subsidy was and still is one of the ways in which we, the people, benefit from the oil we extract and sell. However, the problem now lies with our government. It has been spending BILLIONS of ringgit in wasteful projects that only serve to benefit our politicians, their family and their cronies. Just think about it. With so many BILLIONS of DOLLARS coming in every month from our sale of petroleum, how come our government cannot afford to pay proper salaries to our government servants? We can't even give them HALF of what Singapore is paying their government servants and Singapore doesn't even have oil! IMHO, the REAL issue is not so much whether we should remove the subsidy. As an exporter of oil, Malaysia is BENEFITING from the rise in oil price. This is why our government can claim a growth in the economy when the REAL economy is doing poorly. The REAL issue is what can we do to stop the government from wasting all the money we, the people, give it via our personal and company taxes AS WELL as the revenue from petroleum sale. If the government does its job right, we should be far, FAR richer than Singapore. But we are not. Obviously, it is hard to knock BN off the position of power, especially when so many Malaysians are apathetic. So, either we start educating other Malaysians about defending their rights... or we really have no right to complain when they next raise taxes or reduce the fuel subsidy.
