Oil prices down - PM lied to Malaysians again

How does this subsidy really work?

Does the government subsidize every litter by a certain amount of cents? That means that when the oil prices drop - it is the Petroleum companies that profit.

Or, is the subsidy such that it fluctuates so much so only to ensure that, per litter is only subsidize so much to ensure that prices are kept the same. If this be the case, then when the oil prices dropped - then the government amount of subsidies dropped.

Really, the government should explain - for we really do not want petroleum companies to benefit because the government delayed in ensuring petrol prices go down when global oil prices dropped?

Well - there is a drop of prices NOW -- suddenly ....., and I wonder why? Because the earlier indication was that the government will not be revising prices for at least 2 months because they wanted to monitor and see whether the drop was temporary or not (something like that....)

Now, suddenly a few days before Permatang Pauh decides on its new MP - prices suddenly are dropped by the government

Petrol and diesel price will drop by between eight sen and 22 sen a litre from Saturday.

The price of RON97 petrol will be reduced by 15 sen to RM2.55 a litre from RM2.70, while RON92 would be 22 sen less at RM2.40, from RM2.62

The retail price of diesel would drop by eight sen to RM2.50 a litre.

Prime Minister Datuk Seri Abdullah ahmad Badawi announced the new prices in a statement after Friday's Cabinet meeting.

He said the prices were determined by taking into account the actual price from Aug 1 to 21 and the 30 sen per litre subsidy borne by the government while the subsidy for diesel, based on the new price, was 50 sen a litre.

"The cabinet decided to bring forward the enforcement date for adjustment of the new petrol price," he said. - Star Online, 22/8/2008 - PM announces reduced fuel prices

Good news - YES, it is but really again the PM has deceived us -- when the price was increased, the government lied because they gave everyone the understanding that prices would go up in a month or so - and then suddenly prices went up.

Same thing here - suddenly prices goes down.

Prime Minister Abdullah Ahmad Badawi made the announcement today - two days after he reiterated that petrol prices would not be cut before Aug 31.

It is believed that the announcement was made ahead the crucial by-election in Permatang Pauh to be held next Tuesday.- Malaysiakini, 22/8/2008 - Gov't slashes petrol price by 15 sen

Will the prices of everything else also go down? - This, I have great doubts. The government fumbled when they caused the increase of fuel prices - and then brought about the increase of almost everything else. If, the government had only ensured that the prices of oil was not increased - even if it meant that the government had to subsidize more - then we would all not be suffering such an increase in the cost of living.

Will the TNB bring down the price of electricity? I hope the government gets TNB to also immediately reduce their rates...

So, will the government discontinue payment to car owners -- or maybe reduce it from RM625 to some lesser figure. Big mess...

Anwar said that when Pakatan Rakyat came into power - they would immediately slash petrol prices by 50 cents.

Wonder whether, we will still get a further slash of oil prices by 50 cents when Pakatan gets into power - or just 35 cents or less since BN already slashed prices by 15 cents (and 22 cents).