We are grateful, really. In Indonesia, pump prices have gone up by 30 per cent, sparking unrest. Here, Minister Shahrir Samad says the Government won't increase prices.
I am grateful but I am curious as to how much more our Government earns now that oil prices have reached US$135 a barrel.
Because between March 2004 and March 2007, when oil prices were well below today's, Petronas raked in nearly RM250 BILLION! Not exactly a quarter of a TRILLION RINGGIT yet, but close.
So Shahrir is correct, and the Government is correct, too, on this one. And we are grateful, really.
General May 24, 2008 21:30 PM
Govt Has No Plans To Increase Fuel Price - Shahrir
MELAKA, May 24 (Bernama) -- The government has no plans to increase fuel price despite the price hike of petrol by 30 per cent in Indonesia beginning Saturday, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said.
On the contrary, he said the government was now focusing on managing the subsidy system to prevent leakage and smuggling.
"For the time being, we are not considering increasing the price of petrol and diesel although we are aware of the impact of the crude oil price hike in the world market.
For the rest of the Bernama story, go here.
Sunday, May 25, 2008
Petrol prices stay, says Shahrir
at May 25, 2008