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

September 25, 2008

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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Will Petrol & Diesel Price Be Revised ?

September 18, 2008

Will the government revise the price of petrol & diesel now that the world price has plummeted ? The answer is : “Wait-LAH”.

Ditanya mengenai penurunan harga minyak mentah dunia sekarang, Abdullah berkata: “Lagi turun lagi baik.”

Harga minyak mentah dunia semalam mencatatkan US$92 setong.

Bagaimanapun Abdullah berkata penurunan harga minyak dunia itu juga akan menyebabkan pengurangan pendapatan Petronas.

Ditanya sama ada harga pengguna bagi petrol dan diesel akan dikurangkan, Abdullah berkata: “Tunggulah lain kali.”

@ harakahdaily.net


Are We Getting The RM0.30 Subsidy ?

August 28, 2008

In announcing the price decrease for petrol & diesel, the government mentioned that it was determined by taking into account the actual price from August 1 to 21 and the 30 sen per litre subsidy borne by the government while the subsidy for diesel, based on the new price, was 50 sen a litre.

I have my doubts, so let us do some calculation :

1st, lets check the price for crude oil. From August 1 to 19, the price for WTI Cushing Spot was between US$112.92 and US$125.03 per barrel with an average of US$116.80 per barrel.

1 crude oil barrel is equals to 159 liter, so :
US$116.80 / 159 = US$0.73 per liter

The exchange rate is currently at RM3.34 per US$1.00, so :
US$0.73 x 3.34 = RM2.42 per liter

Add RM0.32 per liter for taxes & other costs :
RM2.42 + RM0.32 = RM2.74 per liter

Minus RM0.30 per liter for fuel subsidy :
RM2.74 – RM0.30 = RM2.44 per liter

Voila ! So we should be paying only RM2.44 per liter for our petrol.


Petrol Price Reduced By RM0.15

August 22, 2008

The government has announced the reduction for the price of :

  1. RON97 petrol – down by 15 sen from RM2.70 to RM2.55 per litre
  2. RON92 petrol – down by 22 sen from RM2.62 to RM2.40 per litre
  3. diesel – down by 8 sen from RM2.58 to RM2.50 per litre

All prices are effective from midnight 23/08/2008.

A strange decision since it was made known that a price revision was only to be announced on the 1st of each month. Perhaps this have something to do with the coming by-election in Permatang Pauh ? Well, whatever it is, the “rakyat” benefits from the announcement.

For further reading, please visit :

  1. malaysiakini.com
  2. thestar.com.my
  3. nst.com.my

Petrol Price Hike

June 4, 2008

I’m left speechless. We’re going for a rough ride.

Petrol to cost RM2.70 from midnight

KUALA LUMPUR: Prime Minister Datuk Seri Abdullah Ahmad Badawi on Wednesday announced price hikes for petrol, diesel and electricity.

He said the new price for petrol is RM2.70 a litre, effective midnight tonight. The price goes up by 78sen from the current RM1.92, a hike of 40%.

Abdullah also announced that the price of diesel would be increased by RM1 from RM1.58 to RM2.58.

He also said that Tenaga Nasional Bhd would be raising electricity rates by 18% for homes and 26% for business users.

The announcements are part of the new fuel subsidy plan.

Abdullah also announced a RM625 annual cash rebate per vehicle, for owners of private vehicles with engine capacities of up to 2,000cc, as well as pickup trucks and jeeps with engine capacities of up to 2,500cc.

Owners of private motorcycles with engine capacities of up to 250cc will receive RM150.

Payment will be made via Money Order upon renewal of road tax, from July 1.

For owners of private vehicles with engine capacities exceeding 2000cc, road tax will be reduced by RM200.

Owners of private motorcycles with engine capacities above 250 cc will get RM50 reduction in road tax.

Source : thestar.com.my