Cranky, each time the oil price goes up by USD1 per barrel Petronas makes USD250 million. Where have all the money gone? Consider how that amount can help the poor consumer.
By the way, in some of these oil producers, on top of the cheap rates, they even give RM4000 to each family as pocket money. Such a kind Islamic government practising kindness and share the profits with people. Whereas, our Islam Hadhari government only knows how to squeeze our money as much as possible, giving nonsense rebates, and misuse Allah's name for their personal gain. A humiliation to the Islamic civilization.
Firstly, Malaysia is not part of OPEC- because of one simple thing- we don't actually produce enough to be one of those countries you listed out.Secondly, we produce sweet crude, which is infinitely more valuable than the sour crude these countries crank out.Its better to export it out and make a killing and thusly subsidising all the govt's nonsense (Petronas contributes to 70% of the country's revenue). Also- most importantly, RESERVES... if we don't stash up, you can say goodbye to drivnig around or having electricity in 15 years. The best thing Petronas has ever done for us is to slow down drilling and exploration so that we can maintain our reserves.Also, before we're too quick to look at all this negative talk- imagine this: some foreign O&G company like Shell and Exxon-Mobil comes to peddle their fuel at us- who used to subsidise that? Petronas, that's who.I'm not happy about the hike as well, but things could be a lot worse. I just like to look at both sides of the coin and think about the bigger picture.And no, I'm afraid I didn't vote.:) good blog, but it'd be good to pass the word around about the bigger picture now that we're better informed about the situation.
Just to make things clear. The list of price in different countries (as highlighted) is actually referring to the gas price and NOT the petrol price. The gas price in Malaysia is RM0.68/Liter. Please correct me if i'm wrong.
Grace, good points to consider. Will give you a more elaborate response later.Anon, what is the gas you are referring to here? Gas is a abbreviated term for gasoline, another word for petrol.Please refer to the gas/petrol prices around the world.
Or on Wikipedia.Gasoline and diesel usage and pricing
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