Crude oil price drop further below USD74 per barrel, barely a day after the government cut the retail fuel price from RM2.45 to RM2.30 per litre for petrol and diesel from RM2.40 to RM2.20. The cut were made when the crude oil price was around USD84 per barrel.
It seems that another price cut should be coming soon because the crude oil Price is already back to the level before the price hike in June. As a matter of fact this is the lowest level recorded for the last 14 month which have tumbled a staggering 49 percent since soaring to an all-time high USD147.27 on July 11.
The crude oil are already back to the 2006-2007 level and I am expecting it to stay at this level, therefore the government of Malaysia should be revising the price of retail fuel and the economic forecast.
The Malaysian government made the worst blunder hiking the petrol price by 41% in June this year and the impact of such a drastic and extreme upsurge, all consumer items, transportation services, food and beverages prices escalates higher and is expected to remain costly regardless of any reduction of the retail fuel price.
The two people should take the responsibility of such a bad, bad, bad move and that is Pak Lah and Shahrir.
It seems that another price cut should be coming soon because the crude oil Price is already back to the level before the price hike in June. As a matter of fact this is the lowest level recorded for the last 14 month which have tumbled a staggering 49 percent since soaring to an all-time high USD147.27 on July 11.
The crude oil are already back to the 2006-2007 level and I am expecting it to stay at this level, therefore the government of Malaysia should be revising the price of retail fuel and the economic forecast.
The Malaysian government made the worst blunder hiking the petrol price by 41% in June this year and the impact of such a drastic and extreme upsurge, all consumer items, transportation services, food and beverages prices escalates higher and is expected to remain costly regardless of any reduction of the retail fuel price.
The two people should take the responsibility of such a bad, bad, bad move and that is Pak Lah and Shahrir.
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