Retail price of petrol coming down tonight?

I received a phone call of a friend in one of the major oil companies, “You didn’t hear this from me, BUT don’t buy petrol TONIGHT!”

Why?

Is the retail price of petrol coming down at midnight?

*Updated 930pm

It has been announced. RON 97 and diesel is now retailed at RM 2.55 and RM 2.50 respectively. It may not been reduced as calculated  by BigDogDotCom two days ago, to RM 2.35. Never the less, any reduction is a step to something positive for the rakyat.

Bernama.com has the report:

Petrol And Diesel Price To Drop Saturday

By: Ramjit

PUTRAJAYA, Aug 22 (Bernama) — The petrol and diesel price will drop by between eight sen and 22 sen respectively Saturday.

Prime Minister Datuk Seri Abdullah Ahmad Badawi announced Friday that the Cabinet had decided that the price of RON97 petrol be reduced by 15 sen to RM2.55 a litre from RM2.70, while RON92 would cost 22 sen less at RM2.40 a litre from RM2.62 a litre.

The retail price of diesel would drop by eight sen to RM2.50 a litre, he said in a statement.

The petrol price was determined by taking into account the actual price from Aug 1 to 21 and the 30 sen per litre subsidy borne by the government while the subsidy for diesel, based on the new price, was 50 sen a litre.

“The cabinet today decided to bring forward the enforcement date for adjustment of the new petrol price,” he said.

Abdullah said the decision was made after taking into account the fall in the world fuel price in recent weeks and the steep rise in the inflation rate last month.

The Consumer Price Index (CPI) for last month, as announced today, rose by 8.5 per cent compared with July last year.

“It is the government’s hope that the reduction in the petrol and diesel price will help ease the burden of consumers and reduce the inflationary pressure, especially on the low- and middle-income earners. The decision is also based on the current economic development,” the prime minister said.

On Aug 1, the government announced that the petrol retail price till the end of the year would be adjusted on the first of every month, with the subsidy maintained at 30 sent per litre.

However, the prime minister said the adjustment formula would only be implemented if the retail price of petrol was less than RM2.70 per litre. Otherwise the price would be capped at that.

On June 5, the government raised the petrol price by 78 sen or 41 per cent from RM1.92 to RM2.70 a litre and diesel by RM1 or 63 per cent from RM1.58 to RM2.58 a litre.

At that time the world oil price was US$125 a barrel and it continued to rise to hover at US$140 a barrel at one time but has been on a downward trend since early this month.

The price was around US$115 a barrel last week and US$121 a barrel yesterday.

With today’s announcement, the drop in price of RON97 petrol was 5.5 per cent, RON92 (8.4 per cent) and diesel (3.1 per cent).

— BERNAMA

Published in: on August 22, 2008 at 19:09  Comments (2)  

More money for Scomi?

Yesterday, PM ‘Flip-Flop’ Dato’ Seri Abdullah Ahmad Badawi turun padang and experience for himself what the hundred of thousands of rakyat got to through every working day of the life. PM ‘Flip-Flop’ Abdullah took the KTM Kommuter and Putra LRT from Serdang to Masjid Jamek.

The Star has the story:

Friday August 22, 2008

PM quietly takes public transport to experience commuters’ problems

Photo Gallery

Participate in the Poll: Rail-ly good or bad?

KUALA LUMPUR: Setting aside protocol, Datuk Seri Abdullah Ahmad Badawi took rides on the commuter and LRT rail services from Serdang to the city centre yesterday to get a feel of the transport problems faced by the public and came away less than satisfied.

Throughout the one-hour journey, during which he switched trains, the Prime Minister noted the congestion, especially during the peak period, and spoke to his fellow passengers to get feedback.

Speaking to Bernama after disembarking at the Masjid Jamek LRT station, he said he was not satisfied and wanted immediate improvements to be made.

He said the existing services were not systematic, there were not enough coaches and coverage was not comprehensive, leaving many areas not serviced.

“I just saw the plight of people using the trains to get to work every morning. They were jostling to get on board every time a train arrived. There appeared to be no system.

“I’m not happy with this because the people are not getting satisfaction from riding the trains. This we must fix,” he said.

“I found the trains really packed. Some had waited for three trains and yet could not board.

“There’s no queue. People push their way in, women with children and old people are pushed aside,” he added.

Abdullah, who was unaccompanied by officials from the two rail services, arrived at the Serdang Komuter KTM station at 8.15am but could not get on board the first train that arrived because it was packed.

He got on the next train that came 15 minutes later and headed for KL Sentral, the transport hub for the various rail services.

There he also had to wait a while to switch to the Putra LRT service to get to the Masjid Jamek station because, again, the first train to arrive was full.

On both the trains that he took, the prime minister, dressed in a red batik shirt with gold print, stood although passengers offered him their seats.

Upon arrival at the Masjid Jamek station at 9.15am, he chatted with members of the public and bought local cakes from the sellers there before leaving.

Abdullah said he would give attention to efforts to improve the quality of both rail services.

*******************************************************

Now he knows, what the rakyat endure just to lead a normal Klang Valley life, as a working class. A lot of hardship and pain. Especially after the abrupt exorbitant retail petrol price hike on 5 June 2008. PM ‘Flip-Flop’ Abdullah made more promises. “Better and efficient  public transport service for the rakyat”.

For one, can the Government or Prasarana afford all of these desires? This growing requirement is nothing new. Every year, there is an influx of new economic migrants from all over Malaysia in search of the pot of gold on greener postures, arrive with hope amongst the Klang Valleyites’ doorsteps. This influx will definitely demand more resources and investments made to cater for the needs, especially the ‘start-uppers’. The exponential increasing cost of living naturally require the Government to cater and make their living more bearable.

Two, when he did the 30sen per litre petrol price hike in May 2006, he already promised that the saving on fuel subsidy, amounting RM 4 billion annually would be poured back into upgrading and improving the public transportation. That did not happen. Klang Valleyites actually endure more hardships throughout these 2 ½ years.

Third, even if there were any investments made for the public transportation system in the Klang Valley, most of it went to Scomi. The Rapid KL buses were supplied by the Scomi group. So is the building the train coaches for the Klang Valley transport system. It was said that Scomi had supplied Rapid KL with inferior China made buses.

So, will this become another exercise for Scomi, especially when the monorail system in Penang has been postponed indefinitely?

*Updated at 600pm

KTMB board met on Wednesday. One of the item was a RM 67 million contract for new coaches. Three companies were shortlisted, which include Scomi. One of the board member, which represent a Ministry said the meeting that his Minister’s ‘instruction’ is for KTMB to  ‘award’ the contract to Scomi. The board rejected the ‘instruction’ and went ahead on the evaluation of the three shortlisted companies.

Conveniently, the father one of the single largest shareholder of one of the bidding company decided to go walkabout on one of the KTMB’s services the very next day and made statement to portray the urgency to upgrade; i.e. spend more money!

Published in: on August 22, 2008 at 08:28  Comments (8)