Saturday, August 23, 2008

Fuel Price Reduction - Not Related With The By-Election

This is quoted from Bernama's official website titled "Govt Will Stick To Its Plan On Oil Prices, Says Abdullah".
PUTRAJAYA, Aug 11 (Bernama) -- The government will stick to its plan to announce the new petrol pump price on Sept 1 despite the current declining trend of world crude oil prices, said Datuk Seri Abdullah Ahmad Badawi Monday.

"We will go on with what has been announced and promised,"...

This is reported in Bernama's official website titled "Petrol And Diesel Price To Drop Saturday".
PUTRAJAYA, Aug 22 (Bernama) -- The petrol and diesel price will drop by between eight sen and 22 sen respectively Saturday.

Prime Minister Datuk Seri Abdullah Ahmad Badawi announced Friday that the Cabinet had decided that the price of RON97 petrol be reduced by 15 sen to RM2.55 a litre from RM2.70, while RON92 would cost 22 sen less at RM2.40 a litre from RM2.62 a litre.

The retail price of diesel would drop by eight sen to RM2.50 a litre, he said in a statement.

Oh ya! Before PM made this statement, this is what our Domestic Trade and Consumer Affairs Minister, Datuk Shahrir Abdul Samad told the press:
"The ceiling price of petrol will remain at RM2.70 a litre until year-end"
"ceiling price would be reviewed after Dec 31 depending on the current global fuel price at year-end"

Read the full report here by Bernama.

That reminded me about few months ago, somewhere in June when Datuk Shahrir told the world that Malaysia fuel price will not hike till August but almost immediately after that his boss refuted his statement by announcing the price increase.

For Datuk Shahrir, this feeling is just like being slapped hardly on the cheeks by his boss. When price hike announcement, slapped on the left and when price reduction, slapped on the right. Can you feel how painful that is? Well, maybe you can't but I am sure Datuk Shahrir will.

I was also attracted by another statement made by our PM, "Fuel Price Reduction Has Nothing To Do With Permatang Pauh By-election - PM" in Bernama official website.
BACHOK, Aug 23 (Bernama) -- Prime Minister Datuk Seri Abdullah Ahmad Badawi denied allegations that the reduction in the prices of petrol and diesel announced by the government Friday was linked to the Permatang Pauh by-election.

"It has nothing to do with it. It is for all the people of Malaysia not just for Permatang Pauh. Each time I meet reporters I keep getting asked when the prices will be reduced, now I have done it. And now still more questions.

Well, fuel price reduction of course is a good news but I just don't understand why before this PM stated the government will only announce it on Sept 1 but 11 days after that statement, on 22nd of August PM announced the petrol pump price reduction. Maybe by then Permatang Pauh by-election is over? It is just too hard for me not to relate the whole thing with the by-election.

Here is the summary of the fuel price reduction effective on 23rd August 2008.

Fuel CategoryOld Price(RM)New Price(RM)Drop(RM)
RON97 Petrol2.702.550.50
RON92 Petrol2.622.400.22
Diesel2.582.500.08

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