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Sugar price hike: Who benefits?

Dec 042010

So the prices of sugar and petrol have gone up again. But who stands to gain?

This is the third time this year that the price of white refined sugar prices has been hiked. It was raised by 20 sen on 1 Jan and by 20 sen on 15 July. Now it’s going up another 20 sen to RM2.10 per kg. Okay, we all have to cut down on sugar for health reasons, but it’s going to have a spin-off effect on a host of other products like your coffee at the kopi tiam.

But who actually benefits? Only four refineries are allowed to import raw sugar into the country.

Chart courtesy of thestar.com.my

Gov’t must account for premium on pump price

Accountability, Energy resources, Public transport 16 Responses »

Dec 262008

The global crude oil price is now US$36 barrel. In contrast, the local pump price is still relatively high at RM1.80/litre – despite a fifth reduction in price on 15 December since a 41 per cent hike in June.

It’s obvious that the pump price is now higher than the real market price; in other words, the higher price is a form of consumer tax (as opposed to a subsidy previously). Now, it is the government’s prerogative if it wants to impose this kind of tax.

But what is it going to do with this surplus?

Does RM1.90/litre for petrol sound right?

Accountability, Energy resources 37 Responses »

Dec 032008

Let’s update the chart which Ong Eu Soon prepared:

	Petrol price	Global crude
	RM/litre	US$/barrel
01/10/00	1.20	35
20/10/01	1.30	20
01/05/02	1.32	26
31/10/02	1.33	28
01/03/03	1.35	31
01/05/04	1.37	38
01/10/04	1.42	47
05/05/05	1.52	48
30/07/05	1.62	57
26/02/06	1.92	63
05/06/08	2.70	120
17/11/08	2.00	55
2/12/08	1.90	48