Petrol price is hiking up 78 cents to RM2.70 per litre by Wednesday midnight, while the diesel is going up RM1 to RM2.58. Seems like it’s worth being kiasu after all.
With the continous record breaking rise of crude oil price, our price hike seems inevitable. It’s a logical decision for the government to cut the subsidy… the only question that always puzzle me is how they are going to spend the extra money saved from the reduced subsidy.
So far I haven’t heard anything to improve our public transportation system, or to find alternative ways to reduce petrol consumptions in the country… nobody really knows where the money saved from the previous price hike had been used.
The government is supposed to announce some measurements along with the price hike today… will have to read the papers later tonight to see what is happening.
On the other hand, 78 cents hike should be a shocker for most Malaysians… it’s by far the biggest margin we have ever had. The extra fuel cost doesn’t concern me much; what worries me is if the government could control the side effect of the fuel hike… as other products and services would be calling for price hike as well.
Update - shoot, electricity rates going up as well, 18% for homes and 26% for business users from July onwards. This increment could cause more damage than the fuel hike actually; we can try to save on fuel… but we don’t have much option with electricity.
The government also announced a new rebate system for vehicles of different classes as well as a reduction on road tax [details at Bernama and Thestar] which actually opens more rooms for debates of unfairness…
Since that I am working from home, I need to drive less often… but hey, I am getting the same rebate for my car like other car owners. Also, I have a motorbike at home that I rarely used, but heck… I am going to get RM150 rebate regardless; how odd is that?
The rebate is probably aimed to curb the foreign vehicles issue, but the government could be overlooking it by creating more confusions and controversies domestically.
[Official media statement from the PMO about the subsidy restructuring]
Update June 11 - The government has announced that the prices of petrol and diesel will not be raised any more in 2008 even if the global oil price reaches US$200 a barrel. [Bernama]
[...] Breaking news: petrol price hike 40%, effective June 4th midnight [...]
Pak Lah is useless, period.
vote BN, die lah!!! Anwar pls take over the government from the pathetic and hopeless Pak Lah.
When Abdullah became PM, a litre of diesel was 78 sen, or thereabout. Now its 4 times higher.
http://rockybru.blogspot.com/2008/06/rm270-per-litre-from-tomorrow.html
what the fussed? no problem lar. enjoy less, sleep early and dont buy any showoff toys. good luck!
Beras naik, roti naik, toll naik, minyak naik, semua naik. Cuma gaji TAK naik.
Does the petrol ban at the border still enforced after this?
What if I buy 20 old used cars at maybe RM2,000 each (total RM40,00) and registered them, I’m going to make RM625 times 20 equal to RM12,500 yearly, that is almost 31% return annually, much much more better than putting in Fixed Deposit lah. Wait… what if someone register 1,000 or 10,000 ownership without cars……?
quickthinking…ur proposal (register 1,000 or 10,000 ownership without cars) is good (better than ah long’s biz) but hear my advise, don’t start now wait untill 2009
[...] Related: Breaking news: petrol price hike 40%, effective June 4th midnight [...]
Undi BN, parti Barang Naik!!
asdf… the ban is lifted.
Quickthinking… well, that is with assumptions that the government won’t be changing the rules again. If there are people who do manipulate the rebate system like what you suggest, things will change again.
Now that you mentioned it, I wonder if the 2nd car dealers are eligible to get the rebates as well. Perhaps some of them won’t mind not selling their cars from now on.
That’s quite a hike. I’ve never seen such a queue at petrol stations ever.
The government’s decision to allow the unprecedented stiff price hike of petrol and electricity is tantamount to gross negligence in fulfilling their responsibility as the government of the day. Badawi once again breach the election promise of BN; no price hike this year! It is time for Anwar to fulfill his promise; taking over the federal government! The people have lost it’s confidence on the present day government. Barisan National finally proved that it know nuts about running a country. We can’t allow this crisis of confidence over the government of the day to go on. I call on all right thinking politicians to cross over to Pakatan Rakyat Coalition and form a new government as soon as possible.
Our first class world city, KL, until now still has no proper public transport system. Without improving public transport system, and only allow petrol price hike just shown incompetent policy making of Badawi.
Badawi will be remembered as the most incompetent prime minister of Malaysia or Father of Incompetence.
The rakyat want to know why while Petronas and TNB are making huge indecent profits, malaysians are make to pay for the stiff price hike. Together we must demand that the government make public the account of Petronas and TNB, how much revenue and profit they made since world petro price hike.
Instead of anti-inflation committee unveiling anti-inflation measures, this committee is doing the opposition, accelerating the price hike of everything in this country.
Don’t forget this is just the begining, by August when the price of petrol is left to float according to market demand, we will pay more! RM4.00 or RM8.00.
Change, change, change. The people want change; change of the government, change of policy, change of prime minister, change we can believe in. Anwar where are you?????
i think there are still many malaysian thinks that malaysia is more superior than others in asia. just take out the few malaysia made billionaires and millionaires, malaysian are just peanuts if compare to others. we should blame our incompetence government, the current one and the previous one for their fuccup wawasans. when we voice out, the gov. officials said “u tak tahu lah” then give us rubbish explaination and said “tengok…simple saja”
[...] wonder if they would have second thoughts after the recent petrol hike. I don’t smoke [...]
OMG!!! What all those so called leaders of this country is thinking??? They are only thinking about themselves and not about the rakyat at all…If this goes on, I can definitely say bye - bye to BN in the next election… Instead of asking us to change our lifestyles and hiking up the crude oil price, the government should fine other alternatives such as increase the efficiency of public transports and so on… Furthermore… They only know how to hike the petrol price but how about our salary…Its not increasing at all…
OMG!!! What all those so called leaders of this country is thinking???
sial la paklah
[...] is no point protesting against the petrol hike… the fuel subsidy was wrong and should have been gone long ago. It there is anything to [...]