It has been few days or almost a week where the price of crude oil is around USD40/barrel but Malaysia seems to have the oil price to be permanent at RM1.90 per litre. No changes was made.
I remember back when the price per barrel is USD90 to USD70 the price per litre is RM2 but until now as the prices drop to around USD40, it has only been RM1.90 per litre. Why no changes was made by this time? The price is at least going to stay around 1 to 2 months unless US suddenly declare war on some country then the price will goes up again.
Data from oil-price.net has shown that today (10th Dec 2008) the closing price is Us43.76 and for the 1 year forecast will be USD50/barrel. What do you expect from this data? So sure that you and not only you but all of use are hoping that the Oil price will gone lower and as lower as it could be.
Malaysian government has taken back the subsidy on oil and gas for Malaysian but when the price decrease, we haven’t see any decrease on the price of the petrol and diesel. What keep coming out from TV was, government URGE all shop’s owner to lower the price as the oil price has gone cheap. But there is no changes at all. Don’t they understand that the price only change if there is action taken?
In my opinion, government suppose to lowered the price of oil, then urge in tv so that shop’s owner lowered the price of their goods and also give them warning on high price of goods. If this were to be done, Malaysian can once again cope up with their living.
For the coming recession if the goods price is not lowered, lots of people that was recently unemployed would be having great difficulties. If the oil prices is not lowered then its hard to urge the shop’s owner to lowered the goods price. So we are going to face a great obstacle in the coming years.
Hope there is some changes made.