Hello & hi everybody!!it's been a while since i haven't send my post.
My post today regarding the removing of fuel subsidies by the government. Well, tracking the global crude prices that continuous falling down below $50 per barrel,expectation??!!Of coz, the reduction of oil prices!!Currently in Malaysia, the retail price of RM2.00 per litre of petrol is too higher for commercial price which is RM1.64,affected by declining fast of global prices. According to Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad, the retail price would have to take into consideration other cost factors such as the refinery cost. Should we consider this reason might be another reasons created in other to cheating people??i think the cost of refinary cost might not costing thousands of billion ringgit just because we need to cover the cost.ABSURD!!Political stuff again..Show the proof, then we can believe whether the people's money is used properly. In UMNO showed to much political ploys
But it's not totally i hate the government movement to stabilize the crude oil price but it's just not cope with the people's demand. The act of National Economic Action Council (NEAC) that will meet at 1 December might seem the best movement to stabilize the economic petrol price for Rakyat. The purpose of meeting to decide whether to choose between the current managed-float mechanism or be fixed at a minimum price. I Prefered they choose fixed at a minumum price. Great impact to stabilize the sluggish downturn of economy. Let public benefit from the price falls might just be "comfortable" statement to calm the public right now. Whether the current price might fall below $40 seems really possible. Noted by certain articles "economic concerns are clearly trumping any further production cuts by the Organization of Petroleum Exporting Countries, which accounts for about 40 percent of global supply. OPEC lowered production quotas by 1.5 million barrels a day last month, and some analysts predict even lower levels to come out of the cartel's next official meeting Dec. 17". The production might be expected lower in the next month. Oil prices have been crushed as the global economic downturn has diminished demand.