Petrol Price Hike in Malaysia
posted under
Happenings
by greynut
The Prime Minister of Malaysia, Dato' Seri Abdullah Ahmad Badawi announced new pricing for petrol and diesel today (4th June 2008, +8.00 GMT), shocking the whole nation except those who had a say in this matter.
RON97 petrol is now priced at MYR 2.70 per litre ( USD 0.83 per litre) compared to the previous price of MYR 1.92 (USD 0.59) for the same amount. The roughly 40% price hike is also applicable to price of RON92 petrol which will escalate from MYR 1.88 per litre (USD 0.58 per litre) to MYR 2.62 per litre (USD 0.81 per litre) when the new ruling comes into effect. Meanwhile, diesel price is set to increase from MYR 1.58 per litre (USD 0.49 per litre) to MYR 2.58 per litre (USD 0.80 per litre), a 63% hike.
The Prime Minister added that the new prices are inclusive of the MYR 0.30 per litre subsidy which will be borne by the government. He also said that the new price scheme is a temporary measure until a new subsidy method is announced this August.
Chain reactions in the forms of price hike in consumer goods and services are expected after this change. Already, the aforementioned things are becoming increasingly expensive. The recent change will definitely cut deeper into Malaysians' pocket.
The announcement made this evening (local time) stirred unrest in online community of Malaysia, which is said to have played a significant part in influencing the outcome of the previous general election earlier this March. Many forumers in local forums voiced out their dissent regarding the announcement. However, there were few who took side of the government by pointing out that reducing petrol subsidy is more beneficial to the country in the long run.
Situations were not much better in real life. Cars could be seen forming long queues at petrol stations throughout the nation after the news of the price hike reached the public. Motorists waited for their turns to fill up their tanks before the new ruling comes to effect at midnight of 4th June 2008.
In order to get a better picture of what the public is going through, I have arranged for interviews with some budding youths tomorrow.
Stay tuned for the interviews. Adieu, graynut signing off.
RON97 petrol is now priced at MYR 2.70 per litre ( USD 0.83 per litre) compared to the previous price of MYR 1.92 (USD 0.59) for the same amount. The roughly 40% price hike is also applicable to price of RON92 petrol which will escalate from MYR 1.88 per litre (USD 0.58 per litre) to MYR 2.62 per litre (USD 0.81 per litre) when the new ruling comes into effect. Meanwhile, diesel price is set to increase from MYR 1.58 per litre (USD 0.49 per litre) to MYR 2.58 per litre (USD 0.80 per litre), a 63% hike.
The Prime Minister added that the new prices are inclusive of the MYR 0.30 per litre subsidy which will be borne by the government. He also said that the new price scheme is a temporary measure until a new subsidy method is announced this August.
Chain reactions in the forms of price hike in consumer goods and services are expected after this change. Already, the aforementioned things are becoming increasingly expensive. The recent change will definitely cut deeper into Malaysians' pocket.
The announcement made this evening (local time) stirred unrest in online community of Malaysia, which is said to have played a significant part in influencing the outcome of the previous general election earlier this March. Many forumers in local forums voiced out their dissent regarding the announcement. However, there were few who took side of the government by pointing out that reducing petrol subsidy is more beneficial to the country in the long run.
Situations were not much better in real life. Cars could be seen forming long queues at petrol stations throughout the nation after the news of the price hike reached the public. Motorists waited for their turns to fill up their tanks before the new ruling comes to effect at midnight of 4th June 2008.
In order to get a better picture of what the public is going through, I have arranged for interviews with some budding youths tomorrow.
Stay tuned for the interviews. Adieu, graynut signing off.
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