Meshio.com - a Malaysia personal finance blog - Latest Comments in Fuel Up in August

Re: Fuel Up in August

fathersez — Tue, 03 Jun 2008 05:49:53 -0000

It may be quite unfair to compare just fuel costs. I wonder how much Malaysians pay in terms of heavily taxed vehicles. I suspect that I have already paid my fuel bills in excess of market prices for the past 20 years.

And I also wonder what the Gomen will do with the savings from not having this subsidy.....hope they don't waste it away on hairbrained projects.

Re: Fuel Up in August

kenngoh — Tue, 03 Jun 2008 01:33:18 -0000

Finally, it's time to revise back our lifestyle and adjust according to face it. We can take opportunities from the advantage of it, to keep up with the price.

Re: Fuel Up in August

danielkong — Mon, 02 Jun 2008 21:43:18 -0000

The government had been delaying this matter for long time as it could be due to the pre and post general election. They should take this opportunity (rising of world crude oil price) to educate rakyat that subsidies will one day no longer an option. We could probably take advantage of Petronas (since half of the cost of subsidy is paid by them) for another 2 decades.

Early budget estimated the government will pay RM 35 bil for oil subsidies and now turn up to be RM 55 bil. With the RM 20 bil there are so many infrastructure can be built and now just disappear into the thin air. Crude Oil trading around USD 127 with a jump to USD 150 is just an increase of 20% and government could see another RM 20 bil gone.

We need to change together with the environment in order to make ourselves stronger. Hopeful tomorrow announcement will not be a disappointing one. With the initial plan of revamp the whole system (with MyCard reader) and hope government will not still pay ten of billions for fuel subsidies after the massive change of system that could cost another huge amount I believe.

The government should give subsidies of a relevant amount of gasoline each month to all and anything above that amount the individual had to pay for unsubsidized gasoline. To control price frustration, government should start stock pile on crude oil so the price is less speculative.

Btw, I disagree with bernard khoo calculation. Crude oil and gasoline is different. Crude oil is just like uncut diamond and gasoline is like a sparkling diamond. 1 barrel of crude oil after refinery could is lesser and cost of refinery occurred.

Re: Fuel Up in August

eugene — Mon, 02 Jun 2008 20:14:26 -0000

life goes on, but then again we need to learn to be more savvy as far as money is concerned, read more, learn more and save more.

Dont worry too much for things we dont have control over.