Petrol Malaysia

Dear Reader, Crude Oil A very good weekend to you. Before we commence our discussion, we first touch upon the price of crude oil. Today, the price of crude oil is, according to various sources: USD78 per barrel on 15th January 2010 (Ref: Wall Street Journal, 15th Jan. 2010. Update: Oil futures: Crude drops to $78/Bbl on Weak Econ Data .) USD78 per barrel on 14th January 2010 (Ref: CNN, 14 Jan. 2010. Oil slides as weather warms, stocks slide .) USD78 per barrel for February futures at the New York Mercantile Exchange (NYMEX) and USD77.11 per barrel for March delivery at London (Ref: Reuters, 15th January 2010. NYMEX - Crude down 5th day as cold eases, dollar up .) According to the Wall Street Journal ( ibid. ), the latest US economic data shows demand for energy is slowing down, perhaps an indication the American economy recovery is slowing down. Energy stockpiles are rising despite projections that colder weather would bump up fuel consumption to generate heat. Experts have ide...

On 8th January 2010, the Straits Times (Singapore) reported that the Government is launching a pricing mechanism for petrol stations to ensure that only those from eligible groups would be able to purchase petrol at subsidised rates. This mechanism will be launched on 1st May 2010. Those not identified as lower-income groups, and foreigners, will have to purchase petrol at full rates. For example, Domestic Trade, Cooperatives and Consumerism Minister Ismail Sabri Yaakob said that foreigners and persons from higher income groups will be charged RM2.10 a liter of RON 95 petrol. (Ref: The Straits Times, 8th Jan. 2010. Fuel Price By Car Size .) The report from the Straits Times appears to summarize an article in The Star (Malaysia). (Ref: The Star, 8th Jan. 2010. Fuel Price By Car Size .) The Star reported on 8th January 2010 that: The unsubsidized rate of RON 95 is RM2.10 per liter. The present rate of RON 95 is RM1.80 per liter, representing a subsidy of RM0.30 per liter. Datuk Seri I...

On 16th December 2009, a new policy began to take effect: the Malaysian government's policy to restrict sale of petrol to foreign vehicles to a maximum of 20 litres of fuel. This policy came with a caveat: It applies only to petrol stations within 50 kilometres from the Malaysian borders. (Ref: The Star, 16th December 2009. 20-litre ruling takes effect now. ) Readers were further informed that: Under the Supply Control Act 1974, any individual who violate its regulations could be fined up to RM10,000 or jailed for up to three years or both while for a company (petrol station), the penalty is it could be a fine of up to RM250,000 and/or its licence revocation. The most obviously affected crowd would be Singaporean car owners, who drive to Johor Bahru. It was reported on a Singaporean news portal, however, that some Singaporean car owners have found a simple solution to the 20-litre fuel cap: Just drive to the next petrol station, and fill up with another 20 litres. (Ref: AsiaOne, ...