18 November 2008: Fuel prices dropped to RM 2.00 per litre

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taggnas

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As of 18 November 2008, the Government has yet again dropped the fuel prices as followsFuel Old Price Reduction New PriceRON97 RM2.15 RM0.15 RM2.00 RON92 RM2.05 RM0.15 RM1.90 Diesel RM2.05 RM0.15 RM1.90 I personally feel that its about time for the drop but I think that a reduction of 15 sen is nothing when crude fuel prices are now at USD$56 per barrel. Anyway, enjoy the reduction and pray that everything else drops and not just limit ourselves to roti canai and teh tarik.
 
WOW!! Great news! I was dreaming of storing one of the Petronas Tanker behind my home last night... thats 40 thousands liter of petrol. Hahahaha If the price when up again to RM2.70.. I will make RM28,000 hahahaa A crazy dream
 
Any of the companies you work for has reduced down the per km mileage claims in view of the reduction of fuel prices? I'm curious what companies in Malaysia will do in view of our our unique fuel price situation.
 
bro, i'm in the logistics biz and our mileage claim has remained the same ever since the fuel prices went up and now down. since then, sales guys have been spending most of their time in the office...no excuse now i guess. (**sigh**)

i hear schlumberger staff gets $1.20/km but that the oil & gas biz
 
Ha ha, there was a small increase when the fuel price went up to RM2.70/L and stayed there. Hope it stays there....:rolleyes::rolleyes:

Ever noticed the increased traffic ever since the fuel price started to come down? When the fuel price was up, I could leave my house at 8.45am and arrive at my work place within 1/2 hour. Now, even with the school holidays, I have to leave my house at 8.00am and arrive at the same time... 9.15am. Those were the "good" old days of high fuel prices...:eek::eek: smooth driving....

E46Fanatic;373946 said:
Any of the companies you work for has reduced down the per km mileage claims in view of the reduction of fuel prices? I'm curious what companies in Malaysia will do in view of our our unique fuel price situation.
Click to expand...
 
E46Fanatic;373946 said:
Any of the companies you work for has reduced down the per km mileage claims in view of the reduction of fuel prices? I'm curious what companies in Malaysia will do in view of our our unique fuel price situation.
Click to expand...

Bro,

They didn't increase it in the first place during the massive hike!
 
the prices of basic items are very much on the high side still and i doubt there will be any immediate changes.
 
Published: Tuesday November 18, 2008 MYT 1:49:00 PM
Updated: Tuesday November 18, 2008 MYT 1:51:09 PM

Govt has stopped paying petrol subsidies: Shahrir

By ROYCE CHEAH


KUALA LUMPUR: The Government has stopped paying subsidies for petrol since the beginning of this month due to lower global oil prices, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad said.

“The savings on petrol subsidies next year is expected to be more than RM10bil if oil prices remain stable,” he told reporters Tuesday at the Parliament lobby here.

Elaborating, Shahrir said that at a price of US$65 per barrel, the Government would not be paying subsidies and that the focus now would be on deciding whether to set a floor price or figuring out a way for the Government to get some income from the sale of petrol.
“Even with petrol retailing at RM2 per litre, we are not paying any subsidies. We have actually arrived at a time when the price can return to RM1.92.

“In that context, we hope to be able to set a policy to address this when the National Economic Council next meets. A decision must be made on the floor price.”
Shahrir said that for six months from September 2001 to February 2002, the Government had collected taxes from the retail sale of petrol and had stopped that practice since February 2002.

“Earlier announcements of how much the subsidies cost us, even as recent as 2005 or 2006 always included how much we had to forego in terms of taxes. We have stopped doing this however and just focused on how much subsidy we are paying.”

Shahrir said the Government was now enjoying some revenue due to the difference in the ex-refinery price and the price oil companies sell petrol to station operators.
He added that the revenue being taken now was a form of tax that could max out at 60sen per litre.

“After the station operators take their margin of 12.1sen and the oil companies take their margin of 19.1sen, we are left with RM1.69 from RM2.

“If the refinery price is RM1.30 per litre for example, the Government will be taking 39sen per litre as revenue.”
Shahrir also released information on the amount of fuel subsidies paid so far which have amounted to RM15.57bil as at the end of October.

Fuel subsidies last year cost the Government RM16.18bil.
The fuel subsidies in October amounted to RM610mil as compared toRM2.99bil in May when oil prices peaked at over US$120 per barrel.
 
And the next question is... how would the govt make use of the "savings"?
 
deii flash, get your MP to ask that question at Parliament la.... They are elected to do that job on your behalf. :p
 
Referring to the table from the article (the link posted by Lionel Koh)..... does this mean that prices of petrol is cheaper in Indonesia?? Please correct me if I am wrong!

If that is true (as Indonesia is also an oil producing country) but it makes me wonder why they can afford a 8% decrease but not us? Anyone care to share your interesting thoughts with me?
 
taggnas;374149 said:
Referring to the table from the article (the link posted by Lionel Koh)..... does this mean that prices of petrol is cheaper in Indonesia?? Please correct me if I am wrong!

If that is true (as Indonesia is also an oil producing country) but it makes me wonder why they can afford a 8% decrease but not us? Anyone care to share your interesting thoughts with me?
Click to expand...

Simple, we malaysian subsidized the Govt:love:
 
IsaacVky;374044 said:
More and more Perodua on the road .. sigh
Click to expand...

Not to mention when hogging the road on fast lane which very much lower road tax:stupid:
 
People don’t appreciate fuel price cut

www.thestar.com.my

Tuesday November 25, 2008

People don’t appreciate fuel price cut

I REFER to the article “Fuel price drop good but not good enough,” (The Star, Nov 20). I am irritated to see fellow Malaysians are still not happy with the drop in petrol prices. Compared to the previous RM2.70 a litre, oil price has gone down by a whopping 70 sen, something not quite expected before the global recession.

According to many of the people interviewed, the reduction is “not enough”. They said that we should pay around RM1.70 per litre as the price should reflect the prevailing global prices. While I agree, I would like to point out that these people sound rather unappreciative of the price cut.

I would like to remind them that for a long period of time, the Government was subsidising petrol and we had been enjoying a subsidised rate. We should not take it for granted that the price will always remain low.

I am a student but I do know the burden many people faced when the price jumped to RM2.70. However, it is not fair for people to claim that the price reduction is only 15 sen and therefore, it is “not good enough”. Please show some appreciation.

LIM FERN YI, :stupid:

Taiping, Perak.
 
Hi guys,
not sure if this topic was discussed recently but does anyone have any opinion on the new Shell diesel? I've been using petronas all this while but some friends have been telling me that the new shell variant is better. Petronas is supposedly the best in terms of low sulphur content but any idea on latest?
Thanks.
 

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