In a way it is good that we had the petrol shock price increase in March 2008. Fuel prices were relatively stable until the government panicked and made the most dramatic price increase that has increased inflation by at least 20% for ordinary folks.
There is a good letter in malaysiakini on how the government wants to "eat its cake and have it too".
The letter Petrol price reductions: Don't con the rakyat.
Of course the Consumer Affairs Minister now tries to claim that Shahrir: No need for petrol subsidies.
I am sure most ordinary folks believe that indeed there is now no subsidy provided by the government. At today's oil prices of about US$60 a barrel, it is the consumer who is subsiding the government and PETRONAS is now extracting profits from taxpayers.
PETRONAS should be ordered to publish it full accounts so that all Malaysians can better understand the oil dynamics better.
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