Not a great start to the new year as RON95 goes up 20 sen… despite a slightly stronger ringgit and somewhat steady global oil prices in January 2017.

If global oil prices havn’t changed much, has the ringgit weakened then?

Malaysian Ringgit to US Dollar Exchange Rate Graph - Jan 3, 2017 to Jan 27, 2017Malaysian fuel prices are supposed to be on a “managed float” system since the removal of subsidies in 2014. Back then it was announced:

Domestic Trade, Cooperatives and Consu­merism Minister Datuk Seri Hasan Malek, who announced the Cabinet’s decision on this yesterday, said the average price difference in the cost of the fuels in a month would determine the retail prices for the following month.

“This means, if the price of world crude oil increases, so will retail prices of RON95 and diesel and vice-versa. We monitor the world oil price every day to get the average price.

Let’s see how they explain this one.

Now I know we should be moving away from private motor vehicles, but with public transport still not up to the mark for commuting to work in most places, it is another heavy burden on people working outside their homes.

Even before these latest price hikes, the price of a cup of coffee at a local food court in Penang had gone up 10 sen this morning. So you can imagine what this fuel price hike will do to the price of street food and groceries across the country.

31 COMMENTS

  1. No worries
    Petrol prices can go up but no impact on prices of other stuff
    So say the minister from umno
    I wonder if he learns his economics from planet mars
    I guess one of the criteria to be a minister in jib kor cabinet is to have a letter of confirmation from a shrink that there is absence of grey matter between the ears

    • What better forum for Najib and his Cabinet to make a fresh start to cleanse and purge Malaysia of the infamy and ignominy of being regarded worldwide as a global kleptocracy than the Save Malaysia Roundtable of Political and Civil Society Leaders tomorrow Tuesday by ending the global pretence that 1MDB scandal has been resolved and ceased to be an issue.

      At the “Save Malaysia” Roundtable, Najib can propose his strategy to liberate Malaysia from the millstone of the international appellation of a “global kleptocracy” and to listen to political and civil society leaders as to what is the best way to get out of the trajectory of a global kleptocracy and a failed and rogue state.

      Invitations have been sent out by the Roundtable secretary Liew Chin Tong (MP for Kluang) to Najib, political and civil society leaders for the Save Malaysia Roundtable Conference to be held at The Club @ Bukit Utama, Persiaran Surian, Bandar Utama, 47800 Petaling Jaya, Selangor tomorrow Tuesday, 7th February 2017 at 3 pm.

      • Anil and vintage supporters can urge Penang hawkers to go back to basics using charcoal to create fire for cooking. Gas is commercial only enrich some to earn more to afford Penang houses to the envy of many desperate to find decent affordable homes.

  2. The rakyat are suffering with the high cost of living and on top of that we have (alleged) cheating by the govt on the fuel prices which has caused considerable hardship…further TNB is fooling around with higher costs and again rakyat is suffering…hospital charges to go up…what the heck is Najib doing defending the fuel price hike? We know you have billions of dollars in your personal account, what about us???

    • I agree. We have seen prices going up everywhere after GST is implemented. No wonder Ahmad Maslan is in hiding.

      • UMNO info chief Anuar Musa follows the path of Ahmad Madman being the laughing stocks?

  3. Higher petrol price means lower purchasing power for other essentials in life – I have to forgo my monthly foot reflexology session, will go to Gintell or JSN showrooms for free massage on those massage chair instead.

    • Foot reflexology is not a life essential.
      Car pooling to work is a way to cut cost, but one must shed his or her ego to do so.

  4. If Brent oil hits USD80 per barrel, Malaysian economy could improve with better oil revenue but Rakyat could have lower purchasing power as RON95 could cost RM2.70 per litre by simple extrapolation of petrol price since no subsidy. Better factor this into your car purchase consideration e.g. you will consume more petrol with high capacity car or 4WD and could hit your pocket more each time you pump the petrol for your car!

    • Unlike President Trump who told the US AG Sally Yates that you are fired, there was no fall-out of the US$. However in Malaysia, when MO1 fired the Dep.PM Muhyiddin and the Kedah MB Mukhriz over the 1MDB financial scandals, our Ringgit has been going into free-fall against US$ and S$, which now stands at RM4.50:US$1 and RM3.15:S$1. The weak Ringgit has resulted in consumers having to pay more for Ron95 petrol by another RM0.20 from RM2.10 to RM2.30.Until the corrupted MO1 resign…, the Ringgit will continue to be in limbo owing to lack of TRUST in his leadership.As the saying goes, the fish rots from the head and when you have a rotten fish-head MO1 who does not lead by example,the consequences will be a weak Ringgit as compared to Singapore Dollar.

  5. Have you not heard of this:
    Harapkan pagar, pagar makan padi + pendapatan kita.
    What is the use of a government that continues to bring hardship to the people,
    while some government servants (not government owners) can indifferently fly Airbus Corporate Jet A319 for long distance private holidays?

    • MO1 family bonding down under cycling. Someone like Huan should have recommended the use of LinkBike of Penang instead for MO1 family bonding in George Town heritage zone to promote the dacing brand to Penangites.

  6. Either the increase in January wasn’t high enough as YB Rafizi had then predicted an increase of 30sen but PutraJaya kept that at 20 OR the government had secretly introduced a petrol tax.

    • Why not ask hawkers to car pool too or take rapid bus in business and private live to reduce like retirees??

    • Terima Kasih? MO1 has to cover the big hole caused by 1MDB. Also he needs lots of funds now for lots of “dedak” as the elections are just around the corner, probably in August-September when the “feel good” factor kicks in from the success of the Sea Games in KL and Malaysia’s 60th Merdeka celebrations. So I would not care less about the SEA games or Merdeka celebration this year. Focus on GE14 and help to share the messages from INVOKE to those uninformed voters.

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