With the dwindling of crude oil price, which is now at a level lower than 10 years ago, it is worrying to our country economy which depend too much on it. Our country had been enjoying too much "easy" money from the oil incentive and now they could not cope with it. There is no way to hide the price of the commodity, thus naturally, petrol prices need to be adjusted. From today, RON97 has been reduced by RM0.20 per litre, making it RM2.25/litre and RON95 has dropped RM0.10 per litre, and is now priced at RM1.85/litre. The biggest drop is diesel, at RM0.30/litre, which now has a pump price of RM1.60/litre. Now everyone has a reason to drive more for the start of 2016, so that government can collect more taxes from the tolls collection!!!
Now, if analyst were right, the crude oil price could bottom up at around $20 in 2016. Even big oil producing countries are starting to reduce subsidy to cope with the situation now.
Happy New Year to all. Let's pray for a fabulous 2016!!!
