Petrol Price Revised (Should Have Been RM2.31)~ malaysiakini

Well, the government today announced a 10 sen reduction in petrol & diesel prices. The world oil price opened trading today at US$106.61 per barrel, though since the last price revision, it has dipped as low as US$90 per barrel.

Petrol prices cut by 10 sen
Sep 24, 08 2:08pm

The government has cut petrol and diesel prices by 10 sen to RM2.45 and RM2.40 per litre respectively effective tomorrow.

– Second cut in 2 months
– Festive cheer ahead of Raya

Oddly though, earlier this month, the Prime Minister promised a 15 sen reduction if world oil price stays below US$109 per barrel.

Turun lagi 15 sen – PM * Jika harga minyak mentah dunia di bawah AS$109 setong
Oleh HAMDEN RAMLI dan HELMI MOHD. FOAD

PUTRAJAYA 4 Sept. – Perdana Menteri, Datuk Seri Abdullah Ahmad Badawi berkata, harga runcit minyak petrol dan diesel mungkin diturunkan lagi sebanyak 15 sen daripada harga semasa, jika harga minyak mentah dunia stabil di bawah paras AS$109 setong sehingga akhir tahun ini.

Beliau berkata, di bawah formula pengiraan subsidi bahan api, semakan semula harga runcit petrol dan diesel akan dilakukan pada 1 Oktober ini atau pertengahan bulan tersebut.

“Harga minyak dunia turun dan naik. Kalau ia kekal AS$109 sehingga penghujung tahun ini, sudah tentu saya akan berasa amat gembira untuk mengumumkan penurunan sebanyak 15 sen daripada apa yang ada sekarang.

“Sama-samalah kita berdoa supaya (minyak dunia) tidak naik, kalau boleh biar turun lagi,” katanya kepada pemberita selepas mempengerusikan Mesyuarat Majlis Kewangan Negara di sini hari ini.

According to my calculations, the government should have offered a 24 sen reduction. [ Refer : Are We Getting The RM0.30 Subsidy ? ]

The world oil price for today is US$106.61 per barrel.

1 crude oil barrel is equals to 159 liter, so :
US$106.61 / 159 = US$0.6705 per liter

The exchange rate is currently at RM3.4225 per US$1.00, so :
US$0.6705 x 3.4225 = RM2.2948 per liter

Add RM0.32 per liter for refining, taxes & other costs :
RM2.2948 + RM0.32 = RM2.6148 per liter

Minus RM0.30 per liter for fuel subsidy :
RM2.6148 – RM0.30 = RM2.3148 per liter

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One Response to Petrol Price Revised (Should Have Been RM2.31)~ malaysiakini

  1. freddy3113 says:

    thx for leaving a comment at my blog.
    we’ve been had! i did a comparison, toying with ringgit fluctuations and derive how the gomen gain more when ringgit falls while rakyat pays more. it is a win situation but a lose situation for consumers. i also compare our latest pump prices to america, the free market and you’d be surprised that our ron92 is actually more expensive than theirs if we take away the taxation in america!!!

    ini mana ada subsidi? ini tipu!

    http://terangbulannegaraku.blogspot.com/2008/09/id-ten-t-problem-that-plague-malaysians.html

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