I think my perfect chance to get some hits; read from the New Straits Times
PETROL PRICES IN MALAYSIA GOING UP TO RM2.70 EFFECTIVE TONIGHT MIDNIGHT.
Exactly well almost exactly 7 hours and 27 minutes left to pump all the petrol you want, anyone want to go for a joy ride, drag race, vroom your engine or enjoy the luxury of cheap petrol, DO IT NOW!!
Beware of food prices this weekend, eat all you want as well!!
Enjoy and adios!
EDITED: To all those that rushed to pump petrol, thank you for causing a massive jam on the streets and wasting my bloody petrol getting me home! It is already almost 11pm and there is still a bloody long queue to pump petrol! Did you not know if you leave your engine idle with your air-con on, it will burn petrol! ARGH!!
I think it is only in the next few days can people finally seat down and let the fact that we are no longer pampered with cheap petrol sink in. For me, i was shocked at the suddenly price increase because i wasnt KIASU enough to queue and pump petrol. The mere fact that if you have to wait half an hour in the jam, i can't bear the fact that i am wasting petrol to pump petrol; get it?
Just some facts and figures, as well as what prices of other things are going to be like:
If i was a normal citizen in Malaysia that stays in PJ or right outskirt where price of houses are decent, i am bound to at least a 20km-25km ride to work. So lets take 25km x 2, on the way to work and back from work.
50km x 7 days (instead of work, you go shopping.) = 350km
For fuel efficient cars, 12km per litre sounds reasonably decent which would work out to: 350/12 = 29 litres a week.
The difference of 78 cents x 29 litres a week = RM22.62 a week which works out to RM1176.24 a year.
With the cash refund of RM625 (if you are driving a car like me), the amount we potentially have to bear is RM 551.24 a year.
Now that is direct.
What about indirect costs? I remember the days when petrol prices went up by 30 cents, roti canais and nasi lemak were going up by 10 cents. With a simple and slightly inaccurate calculation bearing in mind of the subsidy we get, this time around we are paying an extra 36 cents a litre (using my consumption of petrol), does this mean another 10 cents hike for staple mamak food? 50 cents for a bowl of noodles? Sneak in a dollar here and there?
With no service tax for restaurants with a turnover of less then RM3 million, there shall be no more service tax of 5%. This would mean a meal of what would cost RM200 (RM175 x 10% service charge x 5% service tax) would now be cheaper by RM 7.50 but with a price increase of lets say 10% due to more expensive fuel, we would be worse of by RM3.50 compared to the days with service tax. Is this called reducing the burden?
I think end of the day, we have to bear the extra costs, the country is realising that we can no longer pampered and is passing the costs to the people of Malaysia. The issue is this, will the money saved (RM13.7 billion) be passed on indirectly back to the people to bring up the salaries and development of the country? Or will it end up in "some pockets".
For those who havent got their salary increment, i think its time to voice your concern.
Remember your milage claims too!