A Late December Post - RM1.80

As usual, petrol prices at the pump have been revised for the second time in a month. I must apologise for having a huge pile of work, inevitably postponing this post. But in these uncertain times, to be laden with work is a blessing. The world economy is suffering a beating and Malaysian employers are expected to lay off workers in 2009. The official estimate is that 102 employers will cut 4,729 jobs. The Malaysian Employers Federation estimates that employers will lay off 200,000 to 400,000 workers in 2009. The Minister of Human Resources, Datuk Dr. S. Subramaniam, reports that:

• in January 2009, 35 employers will cut 3,111 jobs;
• in February 2009, three employers will cut 1,523 jobs; and
• in March 2009, 64 employers will cut 115 jobs.

[Source: Utusan Malaysia Online, 22 Dec. 2008. 4,729 Bakal Diberhenti]

On to the petrol prices. The prices of petrol were revised on 15th December 2008.

• The price of RON97 petrol is now RM1.80 per litre (Ref: Bernama, 23 Dec. 2008. Malaysia To Ride "Bumpy" Economic Journey Next Year)
• The price of RON92 petrol is now RM1.70 per litre (Ref: Utusan Online, 15 Dec. 2008. Minyak Turun Lagi 10 Sen.)
• The price of diesel is also RM1.70 per litre. (Ref: ibid.)

Fishermen have been demanding that the price of diesel be reduced to RM1.00 per litre. It is presently RM1.30 per litre, a reduction from RM1.43 per litre. (Ref: The Malaysian Insider, 18 Dec. 2008. BN Reps Claim Fishermen Want To Sell Subsidised Fuel.)Incidentally, 50,000 litres of subsidised diesel were confiscated recently by maritime police in Sarikei, Sarawak. (Source: Utusan Malaysia Online, 15 Dec. 2008. Polis Marin Rampas Minyak Subsidi 50,000 Liter.)

The Government has decided not to implement a floor price for petrol but has set in place a price cap of RM2.70 per litre. This means that prices of petrol could drop further while petrol prices will be limited to RM2.70 at its highest. (Source: New Straits Times Online, 19 Dec. 2008. Shahrir: No Floor Price For Petrol.)

If you, dear reader, were to take the trouble to look into the links embedded in all the articles, you would notice one prominent name that keeps popping up: YB Dato' Shahrir Abdul Samad, Minister of Domestic Trade and Consumer Affairs. His blog keeps track of consumer affairs and more importantly petrol prices in Malaysia. Kindly pay his blog a visit.

Thank you.