Oh no, another fuel price hike in Malaysia
Consumers, fastened your seat belts as the government will most likely increase our fuel prices over the time as it has been officially announced that the proposed two tier fuel subsidy scheme based on vehicle engine capacity has been scrapped.
The two tier fuel subsidy scheme was originally set to be implemented on May 1, 2010.
Consumers can expect a rise of about 10 sen in petrol prices. It is the only alternative the government have after scrapping the two tier fuel subsidy scheme.
At the current price of crude oil of US$80 per barrel, the government is subsidising fuel pump at around 40 sen per litre.
Conclusion
The government decision to scrap the two tier subsidy scheme came as no surprise as the government has been flip flopping on many decisions of late.
We as the rakyat really hope the government will take care of the all of us especially those hardcore poor people in Malaysia.
According to my friend (how far it is true i am not sure as he said he read this news in the Chinese daily newspaper), the government has bought the machines to implement this two tier fuel subsidy scheme. If this news is true, Malaysian tax payers money has just gone down to the drain once again.
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One Response to “Oh no, another fuel price hike in Malaysia”
By Kris on Mar 6, 2010 | Reply
Looks like the poor getting poorer, the rich getting richer..
This increase will trigger another big wave to basic food price hike. And with the coming of GST, seems that normal people will be hit by endless Whammies…