09 July 2008

Welcome Post

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 price, too.

This blog has been set up in response to this dire situation. Over time, I hope to blog about matters related to petrol, oil, gas, diesel, etc., most likely in the context of Malaysia. If this blog is able to inform you and expand your horizons, all the better. Yet, perhaps, this blog has been set up for myself. I am, dear reader, at that stage of life where the whole of life stands still every time I think about the next ten years. I don't have a plan for the next ten years. Yet I have a strong urge to "make it", to "make something of myself", and most importantly, "make sense and meaning of life".

There is no doubt that the whole world is suffering as a result of petrol price increases. The price of oil has skyrocketed all over the world. Today, I read that truck drivers in India protested against the rising price of petrol. Today, I read that the price of petrol has touched USD1.68 per liter in Japan. Businesses are reeling as they struggle to maintain profitability. As a result, they have to pass on their costs to their customers.

The prices of consumer goods and services are rising everywhere. Airline companies are struggling to maintain profitability. The Malaysian government is cognizant of inflation hitting an all-time high. Bank Negara Malaysia (Malaysia's central bank) expects interest rates to rise in response.

How will we fare? Only time will tell. I do hope that if there are like-minded readers out there, you would drop me a line. I would be more than happy to connect with you. Also, if you have an opinion about petrol worth posting up (i.e. it makes good reading), I would like to publish it on this blog as well. (We could publish a short sypnosis and provide a link back to your page, if that's your cup of tea)

Til the next time.


Shah Jehan said...

High time somebody dedicates a page solely for dear petrol. If the prices of so many things are rising in response to the rise in petrol, can we please have a raise in pay too? Unless this happens, everybody in the middle and low income groups will have to downsize their servings of food and change their lifestyles. Which is exactly what the government is suggesting we all do. Easier said than done!