Fuel hike: 78 sen more to RM2.70 per litre
Malaysiakini
Jun 4, 08
4:55pm
The government has just announced that petrol price will
go up by 78 sen at midnight - a 40.6 percent jump from RM1.92 per litre
to RM2.70. The price of diesel will go up RM1, or 63.3 percent
- from RM1.58 per litre to RM2.58. The price hikes are among government measures
to cut the spiralling bill for oil subsidies, which is expected to amount to
RM56 billion this year. At a press conference held at 5.30pm, Prime Minister
Abdullah Ahmad Badawi also announced that the government plans to offer rebates
to motorists to offset the fuel price increase. Under the scheme, vehicles below
2000cc will receive a RM625 rebate annually - to compensate for 800 litres of
fuel used under the new price. Meanwhile, motorbikes will be given a rebate of
RM120. The money will be paid by postal order. Rebate will be paid when
motorists renew the road-tax for their vehicles. The government is expected to
save RM4 billion under this new subsidy restructure. However, the government is
slowly expected to head towards totally abolishing the fuel subsidy. If petrol
is to be sold at full market prices, it could be as high as almost RM4 a litre -
about 50 percent above current levels. Since 2004, petrol has gone up by 97.1
percent, while diesel increased by a whopping 231 percent [see chart below].Higher TNB tariffs
Abdullah also announced that the road tax for vehicles above 2,000cc will be
reduced by RM200. For motorbikes above 250cc, their road tax will be slashed by
RM50. The diesel subsidy for fishermen will be fixed at RM1 per litre while
vessel owners will have to pay RM1.20 per litre. The premier also announced a
price hike in gas supply for electrical and industry sectors. The premier
further said that the electricity tariffs too would be increased. He added that
the power tariff rate would remain the same for households which use about 200
kilowatt of electricity, which would still cost them RM43.60. Any usage beyond
this would fall under the new price which will be announced by power supplier
Tenaga Nasional soon.
KUDOS to our government. With this hike of price for fuel, we will have to kindly dig out more money not only for petrol but for every stuff that is on the rack of the shop.
Cars queing for petrol at a petrol station in Tmn Sri Skudai
WTF is happening? I thought Malaysia is 1 of the country that produce petrol & selling it to other country. We should have earn a lot from the increasing global price of petrol if that is so & for that we don't need to increase our domestic fuel price. What is this? We are not country that imports petrol, we are exprorting!! Why the government increase the price? Is our country coffer running out of reserve? Is our country running out of money? Where did the money goes?
Now let us compare the price with OIL PRODUCING countries
UAE– RM1.19/litre
Eygpt– RM1.03/litre
Bahrain– RM0.87/litre
Qatar– RM0.68/litre
Kuwait– RM0.67/litre
Saudi Arabia– RM0.38/litre
Iran– RM0.35/litre
Nigeria– RM0.32/litre
Turkmenistan– RM0.25/litre
Venezuela– RM0.16/litre
MALAYSIA– RM2.70/litre
Buffalo donkey!! What a government we have. Good job!!
*stats taken from Malaysia Today
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