Saturday, 23 August 2008

Fuel price: 15 sen down...

…to ease the burden of the people.

Another coincindence? The announcement wass made three days before the Permatang Pauh Parliamentary by-election

Gov't slashes petrol price by 15 sen - Malaysiakini

Aug 22, 08 5:34pm

The government announces that price of RON97 petrol will go down by 15 sen from RM2.70 to RM2.55 per litre at the pumps beginning midnight, a reduction of 5.6 percent.

Meanwhile, the lower grade RON92 petrol will be slashed by 22 sen from RM2.62 to RM2.40 a litre.

For diesel, the price will go down by eight sen, from RM2.58 to RM2.50.

Prime Minister Abdullah Ahmad Badawi made the announcement today - two
days after he reiterated that petrol prices
would not be cut before Aug 31.It is believed that the announcement was made ahead the crucial by-election in Permatang Pauh to be held next Tuesday.

"The petrol prices were fixed after taking into account the real price of petrol from Aug 1 to Aug 21, as well as the fixing of 30 sen subsidy for both grades," he said in a statement.

"Apart from this, the cabinet also decided to reduce the price of diesel by eight sen. At RM2.50 per litre, the subsidy borne by the government for diesel will be 50 sen for every litre."

According to Abdullah, the reduction of the fuel prices was made possible due to a significant drop in global oil prices this month.

Help alleviate the burden

The prime minister also lamented that the inflation rate for July 2008 had increased by a whopping 8.5 percent compared to July last year - hitting a
new 27-year

The drastic rise in inflation was due to the sharp hike in petrol prices in June -
a 40 per cent jump - as well as an increase in electricity tariff.

"It is the government’s hope that the reduction in petrol and diesel prices will help alleviate the burden of consumers and reduce the pressure of inflation, especially for the lower and middle income groups.

"The government’s decision was also made based on current economic developments," he added.

On Aug 1, the government announced that the market price of petrol until the end of the year will be streamlined on the 1st of every month, with the subsidy set at 30 sen.

However, Abdullah said, this formula can only be implemented if the market price of petrol goes lower than RM2.70 per litre.

"If the market price is higher than RM2.70 per litre, then the price will remain at RM2.70 per litre," he added. -

Read Melvin Mah's Oh, Dollah...You are My Master and My Savior!..? here
Anil Netto's Petrol price cut a sign of desperation here


puteri said...

Tok mom,

I suppose we should be thankfful for little mercies and count our blessings that the Gomen is ever so "prihatin" to our sufferings.

And yes, we must also be thankful that there is a by-election.

Let's have more by-elections.

Anonymous said...

We must have more By-Elections.....

The PM will at least leave his office to see What's going on in his own country.

More Corrupt Officers will be taken to task.

More Swearings of Innocence on the Koran by the Guilty

Also Think of the goodies that they have to fork out within just one week!

And the Non Malays will have more of their Share of the Cake.

Sworn Innocent

Melvin Mah said...

kak maria,

i was at Anwar's ceramah at Batu (Tian Chua's lot) during the election campaign (it's near where I stay) and at one point, Anwar poked fun at Abdullah whereby Samy and Ka Ting approached him for help and Abdullah gave them money, then they said "Oh Dollah, you are my master..."


Anonymous said...

you know what..?
whatever you do, it doesn't matter anymore. we just want you out..and this you will see on august 26th..we think you can trust us on that, more than what we can trust you on anything...

Anonymous said...

Firstly, we must thank Wan Azizah for resigning and bye-election was called. If not for this we could still be paying RM2.70 per ltr. Who said the resignation is a waste of public fund. And it came before the month's end, contrary to earlier indication. They can't wait to give the entire rakyat (not just those in Ptg Pauh) this benefit. How caring!!! See how low is their estimation of the people intelligence. PP voters, can you be bought for RM0.15? But don't worry, after 26 Aug they will look for the flimsiest of excuses to raise it again.

frm: can't be bought

Hi&Lo said...

Crumbs for the rakyat from the master's table. A lot of spending with little to show, eg Mercedes for state excos.

Anonymous said...

I don't agree to petrol price reduction coz it will bankrupt the country. Pak Lah, you're damaging Msia's economy. I believed you when you and yr worthless cabinet colleagues said the country could go bankrupt if petrol prices not increased. What happened now? Changing yr mind again?. For the empteenth time? People don't call you Mr Flip Flop for nothing!!

frm: petrol guzzler