Thursday, September 25, 2008

Malaysian Fuel Prices down by 10 cents

Since the sudden overnight price hike of 40% in fuel price back in June earlier this year, the Malaysian government has since been heavily criticized by the people to explain, on the oil price increment, and why Malaysia despite being an OPEC member, was experiencing an economic downturn in comparison to all other OPEC members that were having a flying year with the oil price increase.
Moreover, all Malaysia's oil and natural gas belongs to just one company - Petronas, the largest company in Malaysia with hundreds of billions of profits annually. And the shocking part is Petronas is a Private Limited Company, rendering Petronas need not be liable for exposing all its activities and accounts. Hence the poor peasants weren't even able to buy shares of this company to at least get their fair share of returns for what's available underneath their feet, from the very own country they inherited from their ancestors. Following a decrease in petrol price of RM0.15 earlier on, the government today announced another round of decrease in petrol price of RM0.10 following the recent downtrend of oil price. Minister of Domestic Trade and Consumers Affair Datuk Sharir Samad said the the (negligable) RM0.10 in reduction is due although international oil prices had dropped, Malaysian currency had depreciated against the US Dollar.

Sounds absolutely logic right? If its logic that if you want to have mangoes from the mango tree planted in your yard, you'd have to buy it in the market where your dad sells them, in a foreign currency. Oh and since your dad is a private limited dad, he ain't gonna share the profits with you my dear ol boy.

1 comment:

Anonymous said...

Haha. Sometimes I wonder if the G is really putting on this drama for the citizens or for their own amusements ? Hmmmm...... But just a mere 10sen decrease in petrol ? I'm not really jumping up for joy about it, instead I'll yawn till the flies nest in my mouth.

Its obvious that they still need to feed the 'impoverished' (already) rich bastards. And where are our fingers pointing to ? Well, to make this comment sound NOT seditious, I'll just say, you know it and I know it too.

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