Petrol Malaysia

I read with interest over the weekend that Future Fuels Forum , organised by CSIRO , has published a report stating that fuel prices (in Australia) could reach $8 per liter by 2018 . When compared with Malaysians, Australians seem to be much more concerned about the price of their petrol. Why is that? According to this article at the Sydney Morning Herald, the FFF report is based on the premise that (a) petrol production will peak; (b) petrol production will decline; and (c) demand for petrol will spiral upwards. All of this is based on the premise that we will reach Peak Oil in the next 5 years. Peak Oil is the point when we have reached the maximum production for petrol, and basically, there's no more petrol left to be pumped. However, an article published by the Centre For Research on Globalization ( Is There An Oil Shortage? , by I. Hossein-zadeh), denies that we have reached Peak Oil, and blames the soaring prices of oil on "the destabilizing wars and political tur...

Wikipedia keeps a list of oil prices around the world . The list is regularly updated. OPEC chief, Chakib Khelil, was quoted  in The Age (Australia) blaming the weak US dollar for the skyrocketing price of oil. He said the price increase was not linked to demand and supply. In the same interview, he also said that strong demand from China and India (for petrol) will foreseeably keep the price of petrol high. I read that article and wondered what China and India did to require so much petrol. Here is a quote, incidentally also taken from The Age (Australia): Until recently, several billion Chinese lived as we did a century ago. Imagine their energy demands rising to our levels and you'll quickly figure oil prices aren't going to return to the levels of a year ago. Taken from this particular editorial, "The Year Everything Changed" , the writer noted how the present oil crisis is different from the petrodollars oil crisis of the 1970's: First, oil cri...

The price of petrol in Malaysia today is RM2.70 . It has been so since the 5th of June, 2008 . References: Economic Times Channel News Asia Xinhua The international price of petrol today is USD$135.21 per barrel . Reference: OPEC price basket, based on petrol prices in 13 countries One barrel of oil is approx. 159 liters . Reference: Google Wikipedia The international price of petrol is approx. USD$0.85 per liter . (Calculated by dividing USD$135.21 by 159 liters.) Therefore: the int'l price of petrol is approx. RM2.75 per liter . Reference: Yahoo! Finance (Currency) Welcome to PetrolMalaysia.com . You may be asking why I have set up this blog. Petrol is a pressing concern, at the present moment, for all citizens of Malaysia. The rising price of petrol, continuing unabated and unchecked, will create problems for all Malaysians. The rising price of petrol will necessarily spill over into everything else -- services and goods -- which, in turn, will go up in pric...