Crude Oil Prices still tumble despite OPEC plan to cut 2.2 million barrel per day!
In fact, the crude oil is now trading below USD40 per barrel today against the OPEC President's expectation of a higher rebound on the commodity price.
Traders and demand are more concern on the current economic situation.
Our local retail petrol price should see further cut and the fair price should be at RM1.50 per litre a 30 sen cut from the current price, we once enjoyed years ago. Malaysian public fuel (petrol and diesel) are no longer being subsidized by the government (except for fishermen and bus operators) and as a matter of fact we have been paying premiums for our fuel for quite a while.
By cutting further the price, we Malaysian will have more money to spend elsewhere, and created better domestic consumption and therefore will help the Malaysian government to sustain our economic statistics.
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