Malaysiakini - Fuel hike: 78 sen more to RM2.70 per litre


	Malaysiakini - Fuel hike: 78 sen more to RM2.70 per litre

walski69

6-4-2008 7:02 PM

2501 views

tags:

oil price, economy, politics, malaysia

walski69 says:

A big dose of reality hits Malaysians. We can expect an increase in a lot of other daily necessities coming up very soon...

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<P>The government has announced that petrol price will go up by 78 sen at 
midnight - a 40.6 percent jump from RM1.92 per litre to RM2.70.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.malaysiakini.com/news/83938"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/www.malaysiakini.com/img/699B434F-E0E7-4BB2-8783-90561C0B4DD1" alt="abdullah ahmad badawi govt announce new petrol price increase 040608 07" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.malaysiakini.com/news/83938">
<P>"Effective from tomorrow, June 5, 2008, the price of petrol will be raised by 
78 sen and the price of diesel will be raised by RM1," Prime Minister Abdullah 
Ahmad Badawi told a 50-minute press conference at his office in 
Putrajaya.<BR><BR>The price of diesel will increase by a whopping 63.3 percent - 
from RM1.58 per litre to RM2.58.</p> <P>The price hikes are among government measures to drastically cut the 
spiralling bill for oil subsidies, which is expected to amount to RM56 billion 
this year.</p> <P>With the new structure, Second Finance Minister Nor Mohamed Yakcop - who was 
also present at the press conference - said the government is expected to spend 
about RM18 billion a year on oil subsidies&nbsp;</p> <P>At a press conference held at 5.30pm, Abdullah also announced that the 
government plans to offer rebates to motorists to offset the fuel price 
increase.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/28D75EAD-4EBC-4765-80BF-6BD8A3873D1B/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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