Thursday, June 05, 2008

Of fuel hike...

The Nations's free newspaper headlines graphically indicated the 78 sen increase in petrol and Rm 1 increase for diesel in Malaysia effective from 5th June 2008.

The first inkling of the impending fuel price was first detected on NST online before the official announcement by the Government at 5.30 pm on 4th June 2008.

The impact of the increase will be far ranging. Along with the news of fuel increase, AAB's govt has offer cash rebates of up to RM 625 to individual owners of cars with capacity of less than 2000 CC, whilst the motorcyclist were offered cash rebates of up to RM 150 for owners of less than 250 CC motorcycles.

Then comes the double whammy...electricity tariff will be increased effective from 1st July 2008.
The fuel price will be reviewed on monthly basis.

In an immediate response, motorists que up the petrol kiosks to fill in their tanks, and the savings can come up to RM 50 or more. In the BSKL, the composite index loss 27 points in the early trading and by 10.03 am, the composite index drops to 34 points.

Let's hope that the legislators can do something about this and come up with a better idea. It seems that the Government are doing things on ad hoc basis without proper planning. A recent case of banning foreign vehicles from filling in their tanks in Malaysia just took effect on 2nd June '08 and by 4th June '08, the Government has reversed their own decision when the STAR quoted Domestic Trade and Consumer Affairs Minister Shahrir Samad of announcing the decision.

And all this come in the midst of unsettled rice price issue and the talks of possible cross over by politicians. Is this the beginning of the end for AAB ?

Till then...G'nite M'sia...wherever u are...

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