Sunday, December 14, 2008

Much cheaper petrol & diesel?

Are we looking at another downward revision of the retail oil prices? Maybe, said Domestic Trades and Consumer Affairs Minister Datuk Shahril Samad.

However, there MUST be revisions although the government has yet to set the floor prices at the pumps.

US financial firms Merrill Lynch and Goldman Sachs, whose forecast of world crude oil price could hit as high as USD200 per barrel by February next year, were expecting it to go down to between USD35-USD40 per barrel next year.

This means retail price of petrol and diesel in Malaysia, too will have to revised downwards to between RM1.50-RM1.65 and RM1.40-RM1.50 per liter respectively.

Let's wait and see...

2 comments:

adam harris said...

Jai,

Yes, the petrol and diesel price has and will be reduced further but when you reviewed the price of good and services, you don't see any reduction.

Do you agree with me that, Pak Lah and Syahrir had made a blunder in raising the price earlier on.

I can't blame Pak Lah since he is an Economic student drop out from UM but how about the other Ministers-Najib? Such a blunder.

What happened to the Cambridge/Harvard advisors in level 4? They don't know about "The Bahavior of Comsuption Spending? Well sometime, if your advisors are graduate of History and political science, how do you expect them to advise on Economic policy?

Well, I hope Mustapha Ong will not be an adviser for Najib--sure same problem.

dannalli said...

Effective today it's Rp5,000 per litre for Premium in Indonesia.