Crude oil price is now below USD113 per barrel, Malaysian are now paying a high premium for our retail petrol and diesel prices. As i mentioned in my earlier blog we were given 30 sen discount when Crude Oil Price was above USD136 per barrel. Now at USD112 we are subsidizing Petronas instead of govt subsidizing us.
Why wait until 1st of September?
When the govt decided to hike the retail price by 41% and 63% for petrol and diesel respectively, they never wait until the end of the month, but when they want to reduce it, they squeeze us as much as they can!
Anyway, the damage has been done, with the drastic and huge increase, the increase on several expenses like food, cost of transport is now irreversible. No way the retailers, food sellers, transport operators will be willing to reduce their charges. Inflation will remain high...
If the govt has been very discreet and tactful when they decides the quantum of increase of retail petrol and diesel price, we would not suffer this much.
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