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Wednesday, January 05, 2011

RON97 and kerosene up 10 sen per litre effective today

RON97 and kerosene up 10 sen per litre effective today

UPDATED @ 11:17:28 PM 04-01-2011

January 04, 2011

KUALA LUMPUR, Jan 4 — The prices of RON97 petrol and kerosene will be increased by 10 sen respectively effective midnight, said Petrol Dealers Association of Malaysia (PDAM) president Datuk Hashim Othman.

With the increase, RON97 petrol will cost RM2.40 per litre (previous RM2.30)while kerosene will be sold at RM2.50 per litre.

Hashim, when contacted said that he was informed about the increase by the authorities, tonight.
The government announced on July 16 last year that the price of RON97 will be subjected to a managed float to reflect the price of petrol in the global market.

The last time price of RON97 went up was on Dec 1, 2010 when there was a 15 sen increase.
Today’s increase will however, not affect RON95 petrol that remains at RM1.90 per litre, diesel RM1.80 per litre and LPG RM1.90 per kg.

According to a report today, oil produced by the Organization of the Petroleum Exporting Countries (OPEC) increased to US$89.79 at the start of the week. — Bernama.

My opinion:  

Hey, IT"S NOT EVEN REACHING US$100 mark yet...  Why increase again?  Note that in 2008, it touched US$140+ mark.  WHAT IF IT REACHES its peak again? 
I shudder to think when Oil hits USD140 again. Thats equal to RM3.60 a litre on Ron 97 if on the same scale of movement.
Very disappointed...  That's all I can comment...

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