Fuels are up!

PM has announced the increase of Petrol & Diesel price.
New petrol price RM2.70 from RM1.92
New Diesel price RM2.50 from RM1.50

This is the craziest hike ever in Malaysia's history! And again...bravo to our beloved Pak Lah.

These are the pictures that i manage to capture on my way home, while everybody rushing to full up their tanks. Some of the petrol stations even have STOPPED selling the petrol and was giving nonsense excuses. Im not sure if they can gain more by selling it with a new price tomorrow.

Shell at Jalan Sultan Azlan Shah, opposite Recsam. The que was a kilometre away.

The qeue at Caltex Jelutong was almost reaching Bukit Dumbar.

Is the RM625 cash rebate sufficient to dampen the hike impact?

Lets do some maths here.

Assuming your car mileage is about 30cents per kilo and you’re travelling an average of 40kilos per day. Your monthly expense for the fuel alone is about RM360. The reviewed price will cost you monthly an increase of RM144 which in a year will total up to RM1728. So, in no way that this new review of subsidy can help the deserving groups.

With the recent increase of food prices, this announcement will continue to fuel the price war!

Surprisingly also, government has announced an increase in electricity tariff. A special Windfall Profit Levy to all the IPPs was also announced. The argument given was that the levy was meant for subsidizing the increase of the fuel price in the electricity industry. I’m really puzzled in what way that this levy will be benefitting the people if the levy was announced and at the same time the tariff also being raised!