The Price Of Petrol Is Now RM2.55 per litre

The price of petrol has been reduced by 15 sen. To be exact, the Malaysian Government has, effective 23rd of August 2008, lowered the price of petrol by the following amounts:

• RON97 petrol is now RM2.55 per litre (15 sen reduction)
• RON92 petrol is now RM2.40 per litre (22 sen reduction)
• Diesel is now RM2.50 per litre (8 sen reduction)

The front page headliner from The Star newspaper on 23rd August 2008 entitled "15 Sen Down", quoted Prime Minister Datuk Seri Abdullah Ahmad Badawi saying that the move was to help ease the people's burden. On page 4 of the same newspaper, PM Abdullah Badawi is quoted saying that the implementation of the "floating" price mechanism was brought forward after Cabinet considered the drop in oil prices in recent weeks and the increased inflation rate in July. (Article headline in newspaper: "Cut Comes 10 Days Early". However, the online version is entitled "Government Decides To Bring Forward Floating Price Mechanism")

For this writer, there was a part of the report which caused a bit of concern:

“There is a possibility that the prices may go up so it would be a waste if we do not lower our prices now. This is to take advantage of the current lower global prices,” he (Prime Minister Abdullah Ahmad Badawi) said after opening a kenaf plant centre.

Channel News Asia, in a report "Malaysia Cuts Fuel Price By 6.5%" points out that the price reduction was announced just 3 days ahead of the Permatang Pauh by-election, in which opposition leader Anwar Ibrahim, will be contesting. Anwar has made it one of his campaign promises to reduce petrol prices substantially if he is elected and manages to become Prime Minister.

In another report by The Star, "Review Fuel Prices Every 15 Days, Suggests Ka Chuan", PKR adviser Anwar Ibrahim appeared to take credit for the reduction of the petrol prices. He said that his earlier efforts to lower the petrol prices had "paid off" when petrol prices were indeed reduced. Anwar Ibrahim was quoted saying that the people of Permatang Pauh should thank him. (For those who are interested, there was a televised debate between Anwar Ibrahim and Shabery Cheek, Malaysian Information Minister in July. Clips of the debate can be viewed at YouTube [click to view]. Caution though -- the debate was conducted in Malay.)