After nearly a year of holding steadfast (~10 months, since 16 Jun 2011), the price of RON97 finally succumbed to market pressure and has now been increased to RM2.90 per liter. As RON97 is no longer subsidized by the Malaysian Government, this announcement was made by the Petrol Dealers Association of Malaysia (PDAM). This comes about, as expected, due to current global fuel prices, currently at USD120 per barrel.
Fortunately for those of use who are NOT using RON97, the Government has confirmed that there will be no price hike for Diesel and RON95, which remain at RM1.80 and RM1.90 per liter, respectively. Though, this means that a larger chunk of the tax-payers' contributions are going into the subsidies....
In my opinion, there should be no impact on the price of goods and food after this announcement, since commercial transportation does not run on RON97. Won't stop those hardcore-opportunists from trying, so do keep an eye out at your resident sundry shop or favourite mamak-stall, in case you might see things have suddenly become dearer.
Note : I realized in my last post on the topic that my graph could be misleading, as the diagonal graph between dates could be interpreted as a steady, day-to-day increase in fuel price. This, I've done some tweaking in Excel so that the graph is now shows a constant price except on the dates where the prices are revises. As it should be! :)
Note : I realized in my last post on the topic that my graph could be misleading, as the diagonal graph between dates could be interpreted as a steady, day-to-day increase in fuel price. This, I've done some tweaking in Excel so that the graph is now shows a constant price except on the dates where the prices are revises. As it should be! :)
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