Excerpt from The Star, Saturday 17 July 2010. Page N16
Reduction in fuel and sugar subsidies - effective 16 July 2010, fuel and sugar subsidies will be adjusted as follows:
RON 95 subsidy will be reduced 5 sen per liter
RON 97 will no longer be subsidized. It will subjected to a managed float, where the price will be determined by the automatic pricing mechanism
Diesel subsidy will be reduced by 5 sen per liter for all subsidized sectors
LPG subsidy will be reduced by 10 sen per kilogram
Sugar subsidy will be reduced resulting in a 25 sen per kilogram upwards price adjustment
Trash Talk Time:
Well, I can't said I'm angry with the price increase in petrol even though it will burn extra hole in my pocket.
The matter I'm not happy is this,
"Our fuel price is still one of the lowest among the region"
Sure or not? Please lah, don't use conversion rate to calculate fuel price of other countries. Don't forget that we are oil exporting country. Don't hoodwinked us with your fail and "closed one eye" theory.
Visit the link below and see for yourself the price our neighbour, Singaporean is paying for RON95. You be the judge.
http://www.petrolwatch.com.sg/
