Its a very simple question that i would like to ask fellow Malaysians…

ARE YOU HAPPY WITH THE PRICE OF FUEL RIGHT NOW??

I always wondered how the price of fuel was calculated before the hike and now and are we paying the price we should be paying? I’m no economist but common sense would tell you that if the price is low, why do we need a subsidy? Cant we spend the money on other areas that really need it?  Well thanks to MediaRakyat I now know the answer.

Some may wonder why on earth at the Pakatan Mp’s constant noise about the fuel price and the subsidies given . Here’s your answer..

Based on a calculation you should be paying RM1.05 for a litre of fuel today!!

How do you get this figure?

The Formula is simple:

Price of 1 Barrel of crude oil in RM / 159 litre= Price of 1 liter of crude oil (without subsidiary)

*1 Barrel=159 litre

During that time

International crude oil price (1 barrel)= 140 USD

1 USD= RM3.42

Promised subsidiary= 30 sen

So

(140 x RM3.42) / 159 litre= RM3.00

RM3.00 – 0.30= RM2.70

That was how it was counted and also how it was promised to be counted later on.

Currently

International crude oil price (per barrel)= 60USD

1 USD= RM3.585

Promised subsidiary= 30 sen

So

(60 x RM3.585) / 159 litre= Rm1.35

RM 1.35 – RM0.30= RM1.05

I know a lot of ignorant people who are happy that the price of fuel has been reduced 4 times since the hike to RM2.70 a litre but really… With 10 or 15 cents reduction each time is it really enough considering the world oil price??