Friday, December 12, 2008

Malaysia Petrol & Diesel Price Chart since 1990

Malaysia Petrol Price Chart in 2008 (source: Malaysiakini)

On 3 Dec 2008, Malaysia government announced a "good news" that petrol and diesel prices were reduced 10sen to RM1.90 and RM1.80 respectively. I had made an update on Malaysia petrol and diesel price chart from year 1990 to 2008 as shown in the figure below:

Complete Malaysia Petrol and Diesel Price Chart since 1990
(updated on Jan 09)

Complete Malaysia Petrol and Diesel Price Table since 1990
(updated on Jan 09)

As Malaysian citizen, should we be happy and excited on the "good news"? Was this news much better than you expected? or you did not expect the petrol price was reduced so soon?

Malaysia petrol price vs global crude oil price (source: Anil Netto Blog)

According from Penang Chief Minister Lee Guan Eng , Malaysia petrol price should be RM1.52 and not RM1.90 because the global crude oil price was $50 per barrel. How did he claim this? By refering to Anil Netto Blog, it listed the Malaysia past petrol price with corresponding global crude oil price as shown in the figure above which I had re-plot the chart. From the data, it is clearly that Malaysia petrol price should be RM1.52, because the current crude oil price is around USD48-49 (as dated on today) which is same to the past petrol price on May 2005! In other words, we are paying more than what we supposely to pay! Are we subsidize goverment? Is goverment taking advantage on us?

Goverment should revise the petrol price immediately since Malaysia inflation rate is pretty high. The high inflation rate causes depreciation on RM even you put your hard earned money in fixed deposit FD!! I really hope another good annoucement on petrol price cut.

No comments: