Oh ho. Everything is going up. Yes, I know we have been benefiting with tonnes of fuel subsidies and yet we complain it's too pricey and expensive. Not to mention our pay is very low. How can we survive here or in KL.
I know it will be taxing on us but sooner or later this has to come in play. We can't just keep tapping into our oil money to pay for everything. Oil and gas is not here forever. So, I don't think it's entirely wrong of the Government to make this move.
So, I guess everyone will be taxing the public transport. Hmmmmmmm.
From the BBC.
Malaysia is to remove controls on fuel prices from August, allowing petrol and diesel prices to rise.
A new price structure will mean that the price at the pump "will depend on global market prices", said cabinet minister Shahrir Abdul Samad.
Malaysia currently has some of the world's cheapest fuel prices, but the subsidies are expected to cost it about $14bn (£7bn) this year.
There will be different measures to subsidise those on lower incomes.
I know it will be taxing on us but sooner or later this has to come in play. We can't just keep tapping into our oil money to pay for everything. Oil and gas is not here forever. So, I don't think it's entirely wrong of the Government to make this move.
So, I guess everyone will be taxing the public transport. Hmmmmmmm.
From the BBC.
Malaysia is to remove controls on fuel prices from August, allowing petrol and diesel prices to rise.
A new price structure will mean that the price at the pump "will depend on global market prices", said cabinet minister Shahrir Abdul Samad.
Malaysia currently has some of the world's cheapest fuel prices, but the subsidies are expected to cost it about $14bn (£7bn) this year.
There will be different measures to subsidise those on lower incomes.
Malaysia recently had to stop foreigners crossing the border to fill up. Cash handouts and fuel quotas are among the measures being considered.
Full details of the new system will be released on Wednesday.
End speculation
Petrol currently costs 1.92 ringgit (59 US cents; 30 pence) per litre, which is less than half the price in neighbouring Singapore.
Malaysia is a net exporter of oil and so has been gaining from rising fuel prices, but the subsidy on pump prices has still been a big drain on its treasury.
Prime Minister Abdullah Ahmad Badawi has called for drastic measures to ensure food and fuel security, including banning oil speculation.
"The international community must be prepared to consider bold and unprecedented measures," he said.
He suggested one option might be to suspend trading of oil on futures markets.
p/s: This is the main topic in the Star. Too many to read and post it here. Lol.
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