The government announces that price of RON97 petrol will go down by 15 sen from RM2.70 to RM2.55 per litre at the pumps beginning midnight.Meanwhile, the lower grade RON92 petrol will be slashed by 22 sen from RM2.62 to RM2.40 a litre.For diesel, the price will go down by eight sen, from RM2.58 to RM2.50.
Prime Minister Abdullah Ahmad Badawi made the announcement today - two days after he reiterated that petrol prices would not be cut before Aug 31.
In a statement, he said: “The petrol prices were fixed after taking into account the real price of petrol from Aug 1 to Aug 21, as well as the fixing of 30 sen subsidy for both grades.”"Apart from this, the cabinet also decided to reduce the price of diesel by eight sen. At RM2.50 per litre, the subsidy borne by the government for diesel will be 50 sen for every litre,” he added.He said that reduction of the fuel prices was due to a significant drop in global oil prices this month.
Help alleviate the burden
As announced today, Abdullah said that the Consumer Price Index (CPI) for July 2008 as compared to July last year had increased at a rate of 8.5 percent.
“It is the government’s hope that the reduction in petrol and diesel prices will help alleviate the burden of consumers and reduce the pressure of inflation, especially for the lower and middle income groups.
“The government’s decision was also made based on current economic developments,” he added.
Abdullah said on Aug 1, the government announced that the market price of petrol until the end of the year will be streamlined on the 1st of every month, with the subsidy set at 30 sen.
However, he said, this formula can only be implemented if the market price of petrol goes lower than RM2.70 per litre.
“If the market price is higher than RM2.70 per litre, then the price will remain at RM2.70 per litre,” he added.
(Source Malaysiakini)
Another coincidence? Why make the announcement now, when the Permatang Pauh By-Election is just 4 days away? Are you bribing the nation? Should we be happy or feel insulted and cheated?
Just two days ago, he said the price of petrol would not be slashed before 31st August, and today he made the announcement! What’s wrong with you? Can’t you be honest for once? Whatever that comes out from his mouth can never be trusted. He has become a compulsive LIAR! Lying is his second nature.
First, they splashed money around for schools and a hospital, and scrap metal collector’s permits to the Indians (actually it’s an insult, like that’s what the Indians are only good for) and now 15 sen petrol cut to the nation. More goodies! Isn’t this money politics?
You know what? You can keep the 15sen, we, Malaysians are not that cheap! We will take Permatang Pauh, and the price of petrol will be slashed by 50 sen soon!