Malaysia - Petrol to cost RM2.70 from midnight

[zero o]

Wednesday June 4, 2008 MYT 7:33:41 PM
Petrol to cost RM2.70 from midnight (updated)

KUALA LUMPUR: Prime Minister Datuk Seri Abdullah Ahmad Badawi on Wednesday announced price hikes for petrol, diesel and electricity. He said the new price for petrol is RM2.70 a litre, effective midnight tonight. The price goes up by 78sen from the current RM1.92, a hike of 40%. Abdullah also announced that the price of diesel would be increased by RM1 from RM1.58 to RM2.58.

He also said that Tenaga Nasional Bhd would be raising electricity rates by 18% for homes and 26% for business users.

The announcements are part of the new fuel subsidy plan.

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.

.. FYI

 

[lkkang]

thats alot of increase. :sweat:

 

[paradigm]

would we see a revision again 2 days later? there has been too many flip-flops over the last couple of days (white cards and limiting foreign cars from topping up at petrol stations). Make me wonder if they are deciding based on a toss of the coin on a given day ...

before implementing any public policy, I am sure that the issues should hv been discuss or at least given some considerations ... now the way I see it is as if they did not even think of the implications of the policies ... sigh ...

 

[Benign]

thats alot of increase. :sweat:

It is just the beginning.........

 

[night86mare]

thats alot of increase. :sweat:

..it is the backlash..

i think it can only get worse.

 

[spindoctor]

I hope the population remains calm. Pity if anything were to happen.

 

[lkkang]

I hope the population remains calm. Pity if anything were to happen.

I don't think anyone can remain calm under this type of situation... sure got something going to happen. Imagine that there are so many TAXI drivers around in the city.... :sweat:

 

[SilverPine]

There will be many many unhappy people tomorrow.

 

[spindoctor]

Badawi's government is already under siege. This could be the final nail in the coffin....:sweat:

 

[zero o]

I was up in KL earlier. There was no hint whatsoever that the govt was going to do this today. It caught a lot of people by surprise. I suppose if citizens got wind of a 40% increase, there would be massive buying and hoarding - which may be worse.

 

[Benign]

Just spoke to a friend in KL, there are queues in every petrol station. :bigeyes:

 

[mohgui]

Just spoke to a friend in KL, there are queues in every petrol station. :bigeyes:

that's true... a few of us got caught in this fiasco for about an hour while heading for dinner. every petrol kiosks in sight has cars snaking right into it.

damn jialat. we will see what happens tomorrow. i'm sure there will be street protests...

 

[mohgui]

I don't think anyone can remain calm under this type of situation... sure got something going to happen. Imagine that there are so many TAXI drivers around in the city.... :sweat:

most of the taxis in KL are on natural gas. so i don't think they are affected as badly as private cars.

 

[Benign]

that's true... a few of us got caught in this fiasco for about an hour while heading for dinner. every petrol kiosks in sight has cars snaking right into it.

damn jialat. we will see what happens tomorrow. i'm sure there will be street protests...

Protest for what? already sheltered/pampered for so long with fuel subsidy.

I think it is a good wake up call. Time to face the real world..... The fact is the petrol price in M'sia is still far cheaper than the rest of world is paying now.

Look on the bright side, less traffic jammed and pollution :thumbsup:

 

[paradigm]

Protest for what? already sheltered/pampered for so long with fuel subsidy.

I think it is a good wake up call. Time to face the real world..... The fact is the petrol price in M'sia is still far cheaper than the rest of world is paying now.

Look on the bright side, less traffic jammed and pollution :thumbsup:

esp subsidy, it is easier to give than to take back ... now it is no longer a subsidy to the M'sians, it has become their birthrights ... take it back and things starts getting hairy ...

I fully agree that they ought to face the real price of oil ... might encourage them to give up driving for good and to rely on bicycles and motorcycles ... also keep the environment clean for another decade or so ...

less demand for oil -> price drop in the future? hmmm ...

according to a new report that I heard, oil prodn is not getting lower, jus that oil futures are pushing up the price as everyone is buying now, expecting to sell even higher later when the futures are due.

 

[satch]

objectively, i think this is a better measure than the previous 50km fuel ban thingy.

 

[mystudio]

objectively, i think this is a better measure than the previous 50km fuel ban thingy.

Its better for Singaporean driving into Malaysia, better for Malaysian driving Singapore registered cars and better for the petrol kiosk within the 50km boundary. But for the majority of Malaysian, its a BAD news! They have another reason to blame us :think:

 

[SilverPine]

Its better for Singaporean driving into Malaysia, better for Malaysian driving Singapore registered cars and better for the petrol kiosk within the 50km boundary. But for the majority of Malaysian, its a BAD news! They have another reason to blame us :think:

Blame the "Market Price" of the petrol.

 

[zero o]

Its better for Singaporean driving into Malaysia, better for Malaysian driving Singapore registered cars and better for the petrol kiosk within the 50km boundary. But for the majority of Malaysian, its a BAD news! They have another reason to blame us :think:

Its kind of ironic that nobody mention about the Thailand cars that have been going in with near empty tanks and filling up .... :think:

 

[zero o]

Its better for Singaporean driving into Malaysia, better for Malaysian driving Singapore registered cars and better for the petrol kiosk within the 50km boundary. But for the majority of Malaysian, its a BAD news! They have another reason to blame us :think:

Its kind of ironic that nobody mention about the Thailand cars that have been going in with near empty tanks and filling up .... i think the thais have been the main beneficiary of the subsidy vs spore :think: