Philip Ng Malaysia CNG / NGV conversion kit installation Diary

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Wednesday, June 04, 2008

Petrol Price Increase today 4 June 2008 to RM2.70 / Litre

The petrol price increase from Rm1.92 to RM2.70 today which is about 40% increase.

By referring to Petrol price for the past 18 years since 1990

before 1990 - RM 0.89
Year 1990 - RM 1.10 (increase RM 0.21)
01/10/2000- RM 1.20 (increase RM 0.10)
20/10/2001- RM 1.30 (increase RM 0.10)
01/05/2002- RM 1.32 (increase RM 0.02)
31/10/2002- RM 1.33 (increase RM 0.01)
01/03/2003- RM 1.35 (increase RM 0.02)
01/05/2004- RM 1.37 (increase RM 0.02)
01/10/2004- RM 1.42 (increase RM 0.05)
05/05/2005- RM 1.52 (increase RM 0.10)
31/07/2005- RM 1.62 (increase RM 0.10)
28/02/2006- RM 1.92 (increase RM 0.30)
04/06/2008- RM 2.70 (increase RM 0.78)

It is the worst increase in history.

Wondering why should we always compare ourselves with Thailand, Singapore and South Korea which are net importers of oil?

Even Indonesia has just declared itself as net importer recently due to its aging oil field and lack of foreign investment in exploration in anticipation to political instability.

Why does Malaysia need to compare its oil price with these net importing countries whereby we are net exporter of oil in the world?

Why! Why! Why!

Just a day after the announcement of the increases, the following developments have taken place:
1) Bus and lorry companies announced that they are increasing charges or will be forced to stop services;
2) The Federation of Malaysian Manufacturers said its members will pass on any increase in costs to consumers;
3) Hawkers and other food operators will wait and see before raising prices; and
4) The KLCI closed 29.56 points down, to 1223.56 points. Plantation and banking counters as well as PLUS were the most affected.

It was a good news for NGV user that the Natural Gas price remain the same.

Is time to convert to NGV today!


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