Another Fuel Price Hike is Looming in August
When the Malaysian Government announced the increase in retail price of fuel to RM2.70/litre from RM1.92 previously we were assured that there shall not be anymore increase in the price for the remaining of this year. Previously, Rt. Hon. Shahrir Samad, the Minister of Domestic Trade & Consumer Affairs, had announced in May that any fuel price increase would only be considered from August 2008 onwards, but the people of Malaysia was shocked by a pre-emptive decision of the Government to increase the price much earlier than expected in stark contradiction to Shahrir's earlier pronouncement. Was Shahrir trying to hoodwink the people, or was it a blatant lie ?
Now speculations are abound that the local fuel price shall be increased again sometime in August this year against the backdrop of a recent decision by Saudi Arabia to increase her petroleum output to almost 1.0 millions barrel per day.
In my mind, if the Government decides to advocate another price increase of fuel in August, then they are just heartless given the current price of basic necessities having increased by between 40 to 50%.
Now speculations are abound that the local fuel price shall be increased again sometime in August this year against the backdrop of a recent decision by Saudi Arabia to increase her petroleum output to almost 1.0 millions barrel per day.
In my mind, if the Government decides to advocate another price increase of fuel in August, then they are just heartless given the current price of basic necessities having increased by between 40 to 50%.
Labels: Economy, Government, Politics
posted by Nasariyev Usovich at
6/25/2008 03:28:00 AM
1 Comments:
The price increase in fuel has had a huge impact globally, take SA for instance. The fuel price will increase on Friday making it just over R10.00 per litre. They're predicting that by the end of the year fuel in SA would cost over R20.00 per litre!! Insane I tell you!!
Our food prices have increased by 100% already and quite frankly I don't know how the person right at the bottom of the pyramid can cope!! Salaries don't increase with the inflation rate and I predict that more people will be leaving the country soon seeking greener pastures elsewhere. Sigh!!
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