Efforts by the Organization of the Petroleum Exporting Countries (Opec) to cut output further are expected to prop up prices. LOL, opec is a farce. They can't even gang up to make more money. Buncha squabbling and cheating fools. Oil industry consultant Ong Eng Tong however feels production cuts "are not so easy in practice to implement and police". But Mr Ng Weng Hoong, editor of energy news portal EnergyAsia.com, is sticking to his forecast that oil will hit US$200 a barrel by 2013, saying the current situation is a "short-term weakness". (Who has the courage to bet against Mr Ng, I wonder?) i only bet if there is a prize
^^Shouldn't..^^ ..all those speculators, who made their highway robberies a few months ago, start speculating and raise the oil price, again???...
Quick Stop ,Topeka Sat, Kansas 1107 SW 6th & Clay 1:30 PM $1.35/gal or 0.364 US cents/liter at this rate, oil is free on Jan 31, 2009
Darn... ...those sneaky speculators are back at it, again.....noooooo http://news.yahoo.com/s/ap/20081208/ap_on_bi_ge/oil_prices
opec are not speculators. They are the market makers. If they cry wolf a few more times, no one believe them anymore.
hmm..what now??? Fuel prices set to drop again GEORGE TOWN: Fuel prices will go down further in the near future, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said. However, he would not say by how much. “I can only confirm that there is still room for the price to drop. “However, I do not think the fuel rebate system will continue after the cycle ends in March next year as most consumers prefer to have the rebate worked into the pump price,” he told a press conference at Sun–shine Square in Bayan Baru yesterday after launching the supermarket’s price reduction campaign. Petrol and diesel prices at the pump have dropped to RM1.90 per litre for RON97 petrol and RM1.80 per litre for RON92 since early this month. Asked if the ministry would impose a floor price for fuel, Shahrir said there were no such plans. On subsidies given to taxi drivers when the fuel price was above RM1.92, he said they should now buy fuel at the current pump price. “The subsidies allowing them to buy petrol at RM1.92 were given when fuel prices were high. “Subsidies are not things that carry you all the way. Taxi drivers should also be happy that the price has come down,” he said. Shahrir said taxi drivers using diesel could use their subsidy cards to buy diesel at RM1.43 rather than pay the RM1.80 pump price. “There is no reason why they cannot make a reasonable living with the subsidy,” he said. Earlier, Shahrir commended Suiwah Corporation Bhd for reducing the prices of 600 types of products, ranging from fresh and frozen food to daily necessities. He also urged state governments and local authorities to do their part in keeping the prices of goods reasonable. http://thestar.com.my/news/story.asp?file=/2008/12/15/nation/2808495&sec=nation
your christmas's wish comes early........ Published: Monday December 15, 2008 MYT 8:02:00 PM Updated: Monday December 15, 2008 MYT 8:07:31 PM Fuel prices reduced by another 10sen PETALING JAYA: Petrol and diesel prices will be reduced by another 10 sen from Tuesday. The price of RON97 petrol is now RM1.80, while RON92 is selling at RM1.70 a litre. The pump price of diesel now stands at RM1.70 a litre. In a statement, Prime Minister Datuk Seri Abdullah Ahmad Badawi said the reduction in the fuel prices was in accordance with the drop in the global crude oil price. The retail price of petrol and diesel had been gradually lowered from its high of RM2.70 and RM2.58 respectively in June. from: http://thestar.com.my/news/story.asp?file=/2008/12/15/nation/20081215195855&sec=nation
When they hiked the petrol prices to Ringgit 2.70/l 6 months ago the country's financial situation in the country must be bad. It then nearly cost them control of the government. Now there seems to be eagerness to reduce petrol prices. Now, tell me are there forthcoming elections in the horizon?
I thought I read somewhere that there is a by-election coming up and BN must win. I don't know whether this by-election is a result of a prominent 'junior' minister (?) who died while playing badminton.
MERRY Christmas GUYS Petrol and diesel down 10 sen By TEH ENG HOCK PETALING JAYA: Petrol and diesel prices have been slashed by another 10 sen effective today. The price of RON97 petrol is now RM1.80, while RON92 is selling at RM1.70 a litre. The pump price of diesel is now RM1.70 a litre. In a statement, Prime Minister Datuk Seri Abdullah Ahmad Badawi said the reduction was in line with the drop in global crude oil prices. The retail prices of petrol and diesel have been gradually lowered from their highs of RM2.70 and RM2.58 respectively in June. Pan Malaysian Bus Operators Association president Datuk Ashfar Ali said the drop would hardly impact his operational costs. “The damage is already done. The price of daily necessities and foodstuff have gone up and nobody will reduce their prices. “Spare parts are still expensive – their prices have not gone down either. And the bulk of the diesel used for our operations is under the fleet card system, where it costs RM1.43 a litre.” Ashfar suggested that the subsidised diesel enjoyed by bus operators could be reduced by a further 13 sen to RM1.30. “With the lower global crude oil price, I feel the Government can afford it.” Pan Malaysian Lorry Owners Association president Er Sui See said with cheaper diesel, lorry operators could consider maintaining transport prices. “At RM1.70, I think we can sustain the price. Diesel accounts for 35% of our operational costs, and only about half of the operators benefit from the fleet card system.” http://thestar.com.my/news/story.asp?file=/2008/12/16/nation/2815077&sec=nation
