This morning Global crude oil traded at USD106.79/barrel, far below from USD136/barrel when PM announced retail petrol hike to RM2.70.
Today, the Cabinet will be discussing on the petrol price, why PM can't decide on his own or maybe "takut" to make a decision, so that that the blame can be directed at all cabinet members.
Earlier, PM had hinted a reduction of 15sen but that was too small compared to the quantum of reduction of the Global Crude Oil from USD136 to USD106, equivalent to 22% reduction. Therefore a fair price should be around RM2.10/litre still retaining the 30 sen discount.
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