RM2.70

The internet is filled with articles that have indicated how un-happy they are with the recent fuel price increase and who could blame them? That means since Abdullah Badawi became an elected Prime Minister in 2004, petrol has gone up by 97.1%, while diesel increased by a whopping 231%

What puzzles me more is the fact that why are the people given a notice period of about 7-8hours to fill up or take the neccesary measures to have their wallets ripped into bits?? I live in the Old klang road area and had to go to klang last night, left home at 730pm and reached Klang at close to 10pm.

Every petrol station was packed with cars spilling out to the roads!! Apparently many petrol stations ran out of fuel and people were angry! Can you blame them?? Its become a bit of a habit of the current government to spring surprises to the people nowadays ha! From the announcement of the elections and now this blow!

I for one am very dissapointed, what are the solutions?

The normal “advice” we’ll hear

1. Change lifestyle
2. Spend wisely
3. The petrol is still cheaper than other countries(are we comparing with oil producing nations?)
4. The government could not be further burden by the subsidy (if a govt doesn’t like burden,maybe we need one which can handle one)

And after all this advice mumbo jumbo this is how our govt spends money

Look at how they spent

1. RM 100 million on renovation of Parliament building and leaks thereafter;
2. National Astronaut Programme - RM 40 million;
3. National Service Training Programme - yearly an estimate of RM 500 million;
4. Eye on Malaysia -RM 30 million and another RM5.7 million of free ticket
5. RM 4.6 billion, ’soft-loan’ to PKFZ
6. RM 2.4 million of indelible ink

Sick to the stomach and apparently this is just the beginning of the process of fully removing the subsidy which we probably be paying about RM4 per litre..

The changes in detail follow

The Changes

Price increase

Petrol – RM0.78/litre
Diesel – RM1/litre
Electricity:
Commercial and industrial – 26%
Retailers and small restaurant operators – 18% (for first 200kWh per month)
Residential – new pricing structure for users above 200kWh per month

Prices effective today (per litre)

Petrol – RM2.70 (previously RM1.92)
Diesel – RM2.58 (previously RM1.58)

Rebates

> RM625 per year
For private vehicle with engine capacity of 2000cc and below, including private pickup trucks and jeeps with engine capacity of 2500cc and below.

> RM150 per year
For each private motorcycle with engine capacity of 250cc and below

> RM200 reduction on road tax
For private petrol and diesel vehicles with engine capacity above 2000cc

> RM50 reduction on road tax
For private motorcycles with engine capacity above 250cc

Streamlined diesel subsidy
(for approved transportation companies, vessel owners and fishermen)

> Diesel – RM1.43 per litre (previously RM1 per litre for fishermen and RM1.20 per litre for vessel owners)

> RM200 per month for every owner and employee of Malaysian-owned vessels registered with the Fisheries Department

> 10sen per kilo incentive for every kilogram of fish caught by registered vessels

> 10sen per litre for every litre of diesel used by river transportation operators according to approved quota

Gas subsidies restructure
(for Peninsular Malaysia)

> For power producers – from RM6.40 per mmBtu to RM14.31 per mmBtu

> For industrial users (consuming less than 2mmscfd) – from RM9.40 per mmBtu to RM24.54 per mmBtu

> For industrial users (consuming above 2mmscfd) – from RM11.32 per mmBtu to RM32.56 per mmBtu

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