Petrol Price Hike Up – RM2.70/Liter

Well, depends on what time you read my post here, due to midnight of 4th June (that’s only a couple of hours from the time of my writing), the oil price in Malaysia will rise up to RM2.70 per liter from RM1.92. The Rm0.78 rise or about 40% increase for the ULG 971 petrol. Diesel will go up by RM1 from RM1.58 to RM2.58. From what I read, this is all part of the new subsidy plan (announced by Prime Minister Datuk Seri Abdullah Ahmad Badawi). Below are the quote from The Star Online;

Abdullah also announced a RM625 annual cash rebate per vehicle, for owners of private vehicles with engine capacities of up to 2,000cc, as well as pickup trucks and jeeps with engine capacities of up to 2,500cc. Owners of private motorcycles with engine capacities of up to 250cc will receive RM150. Payment will be made via Money Order upon renewal of road tax, from July 1. For owners of private vehicles with engine capacities exceeding 2000cc, road tax will be reduced by RM200. Owners of private motorcycles with engine capacities above 250 cc will get RM50 reduction in road tax.

Again quoting from The Star Online by Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad

“Any announcement by the Prime Minister (today) should be seen as a part of the implementation and not the final step,” he told a press conference after opening the 1st Malaysian Construction Summit 2008 at the Putra World Trade Centre here yesterday.

I don’t know what to say. I’m not owning any kind of vehicle (yet) but I do know that somehow this will effect my daily life expenses. I can imagine that after this many stuff will see a price increase (cigarettes anyone…?). would not surprise me if even the price to enter the public toilet will increase. Jokes asides, it somehow a relief that the price will not reach RM4 per liter (as being anticipated earlier). But still, is it the right move? It been said that the revise of the subsidy plan is to decrease loses and direct the fund to another commodity (say like…foods maybe). The current price also will follow closely to the world market price, so there’s a chance the price will drop (IF2 the world price is dropping). I really want to see that happens although it’s kind of unlikely :-(

Around my neighborhood, all the oil-pump station is flooded with vehicle owner that want to fill their tank with the ‘RM1.92 oil’ for the last time. I could imagine maybe I could find someone that kissing the pump terminal as a sign of goodbye :-P . Owh…with this announcement, the previous ban3 that been imposed on foreigner’s vehicles (they can’t fill their tank at Malaysia on certain area) will now be lifted. If any of my words here brings doubt to you, refer to the official media statement made by the government. Unfortunately, it’s in Bahasa Malaysia.

P/S: I’ve taken several pictures at the nearing oil pump station. Will upload it later because needs a little touch up. ~~sigh~~ I need a new camera I guess…

  1. Premium Leaded Petrol
  2. It’s a big IF.
  3. The ban that involved between 200 and 300 petrol stations in Kedah, Kelantan, Perlis, Perak and the Johor Baru and Kulai areas in Johor.

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