If you are using RON 97 petrol, then you need to pay extra 20 cents to RM 2.70 per litre effective midnight of April 1, 2011. Luckily, the price of RON 95 is remaining the same at RM 1.90 per litre else more Malaysia citizens will suffer.
Last year, our government had announced that the price of RON 97 will be based on the international oil market without subsidiary. Based on current oil prices, we know that the global oil price was increased to US$114 per barrel. I still remember the previous highest RON97 price is at RM 2.70 in year 2008, when global oil prices hit a record high of US$121 per barrel.
The increase of oil price really hurt citizen especially who come from average income. This is because they will suffer the most when encountering with the chain effect like other things will be increased too. For examples: food, building materials, bus fares, air fares, and son on.
Based on my first quarter of the year 2011’s analysis report, I discovered that once our government announce something that involve public expenses such as pay for the another new high fuel price, summons and etc, then our KLCI will go up to another level. Do you know why?
My Personal Opinion
I suspect that our government makes use of the extra profit to turn our economy into good condition. Actually, the oil price increased by 20 cents is more than enough and our government can make use of small portion of 20 cents (let say 5 cents of it) to do something. It’s out of our control as we are not the players in this situation. So, who’s the winner at last? I only know that the people who can win more voters confidence in national election will be the winner. However, this is just my assumption and I do not have facts to prove that yet.
How about you? Do you feel the same?