Will there be a fuel price review? - Malaysiakini | Malaysian Sentinel : Malaysia's Politics from a Malaysian Citizen Blogger

Monday, July 21, 2008

Will there be a fuel price review? - Malaysiakini

If I remember correctly, the government is suppose to review the price of fuel and make adjustments base on the market price of crude oil. Thus, if the price goes up, we pay more per liter but if the price goes down we should be paying less. The review would be a monthly affair and I am waiting to see what would happen at month end.

As of now the price of crude oil is USD130.28 per barrel. Way lower than the USD150 it hit some weeks back. So would the government review the price?

Abdullah Badawi MUST keep his word. If the price review is to come than we should see cheaper fuel at month end and the reduction must be a snap move much like the price hike.

Setting the price of fuel to the market price would have an effect on the price of goods, which in turn would be good for the consumer. We would be able to shop around for the best price. Marketeers would have to make adjustments as and when cost of transportation changes due to lower or higher fuel prices.

The amount saved from subsidizing fuel prices should then be allocated to improving the standing of local food producers. This would keep the price of local products down and thus, allow the people can enjoy a lower cost of living. This should be the goal of the government in light of the increase of crude oil, reduce the living cost for the people and thus, you uplift the living standards of the people. When people can eat or afford to eat, you will have happy people. Happy people mean greater respect and the current government needs all the respect it can muster.


zackdanial said...

r u malaysian? if u r not , then let me tell u , what were goes up in malaysia wont go down . trust me on this .

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