What another sad day for Malaysian, when the world crude oil price was sky rocketing, the government said that they cannot sustain the Malaysian petrol price with respect to the world price, but now, when the world price is now starts to became lower, they change their promise and start to introduce the floor price but not the ceiling price. What do you think? Is this protecting the people or protecting their cronies? You tell me......
http://www.thestar.com.my/news/story.asp?file=/2008/12/3/nation/2707085&sec=nation
Wednesday December 3, 2008 - The Star
Fifth price cut at the pumps this year
PETALING JAYA: Petrol and diesel prices at the pump are down 10 sen today, with RON97 petrol at RM1.90 a litre and RON92 petrol and diesel at RM1.80.
Prime Minister Datuk Seri Abdullah Ahmad Badawi announced this through a press statement released at about 5pm yesterday.
“As the world fuel price has had a sharp decrease lately, the Govern-ment has decided to once again reduce the retail price for the public’s benefit,” he said.
This is the fifth time petrol and diesel prices have been cut since retail prices hit a high of RM2.70 a litre in June.
http://www.thestar.com.my/news/story.asp?file=/2008/12/3/nation/20081203192812&sec=nation
Published: Wednesday December 3, 2008 MYT 7:29:00 PM - The Star
Fuel price ‘floor or float’ decision next Wednesday
By V.P. SUJATA
PETALING JAYA: Consumers will know next week if the Government will implement a floor price mechanism for petrol and diesel.
Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said the meeting of the executive council members of the Economic Council, comprising Cabinet Ministers and government officers, would be next Wednesday (Dec 10).
He said consumers should also brace for a decision to have a managed flotation mechanism for oil price based on market rates.
Currently the price of petrol and diesel is not subsidised and not set based on market rates, he added.
Shahrir said many aspects had to be looked into before finalising the issue including generating revenue for the government and providing higher purchasing power for the consumer.
If the consumers want the government to have a free float mechanism, he said they might want it now as prices were down but would not be happy when the price is up.
“Wait for the meeting, I will present my ideas to the exco.
The issue is really between the commercial price (of oil) and how much must go to the consumer and to the government coffer,” he told reporters Wednesday after opening Giant’s 109th branch in Kota Damansara here and launching its book of discount coupons called RM2009 Savings Guide. He said pump prices for petrol and diesel were subsidised in August and September following which commercial prices dropped.
He added that the average crude oil price dropped to below US$57.39 (RM210) per barrel in November and that it would see the same price this month.
Shahrir also said there was no plans to reduce the price of cooking oil.
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