Petrol Price Increase up to 40% at Malaysia June 2008

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Today evening the so called rumor came to life. Yes, Petrol price, diesel price has been increased by 40%-50% by midnight. Hundreds of thousands of cars queue at all the petrol stations around city and other places. It had been rumored that petrol price will go up by august 2008 but it seems government politicians has their wide sense of humor to play with citizens lives. It has been announced at TV today evening by the Honorable Prime Minister of Malaysia that petrol price will increase by 40% totaling per liter of petrol to RM2.70 and diesel to RM2.58. Well Malaysians should start doing their dance that it’s still cheaper in the Asia.. Nuff said. It will effect every single person, objects and equipments around the country. Expect a price burst as soon as next 5 – 15 days time. The Government sector salary has been increased few months before but not the private sector. All the private sector Employee will have a real bad time ahead of them. All the food, consumer product prices will go up by 20%-70%. Each middle class families will have a real hard time to cope up with the pricing.

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New PriceOld Price
RON97 PetrolRM2.70 literRM1.92 liter
RON92 PetrolRM2.62 literRM1.88 liter
DieselRM2.58 literRM1.58 liter

Hey suddenly something choked on my mind.. Have you guys watched “Transformers” ? Do you remember in the movie there was a scene; the sector 7 guy while he was showing the badge to Sam and the Girl and told them that’s the “Do anything and get away with it” badge. I don’t know why that scene suddenly appear in my mind.. Anyway

Here are the Facts and Subsidy Details:

  • RM625 will be returned to the car owners of below 2000cc engines, they will send out the subsidy repayments to the owner whenever they renew the roadtax.
  • 2500cc pick up trucks also falls under the subsidy
  • Motor bikes under 250cc will get a rm150 subsidy per year
  • Roadtax will be reduced for those who doesn’t come directly under subsidy, reduced roadtax by rm200 for engines above 2000cc
  • Roadtax will be reduced for motorbikes above 250cc by rm150

Do you have your own opinion? Feel free to share.

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By the way MalaysiaKini.com has not updated their news about this at the time of my writing.

Read the complete release from Prime Ministers office

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