Friday, October 19, 2007

Foreseeable Increase in Daily Expenses

Yeah, yourself for a huge increase on your daily expenses next year. The rumour is saying that, immediately after the general election (which is soon from year end to next March), lots of prices for the daily stuff used by the general public will definitely be increased.

Starting with the petrol. It could shoot up above RM2.00 per litre from the current pricing of RM1.97. The last increase was a hefty RM0.30 per litre when oil price was US$70 per barrel. The oil price has since shot up to US$90 per barrel as of yesterday. It's targetted to hit US$100 per barrel by 2008.

Here’s a compilation of how the petrol price has increased over the decade in Malaysia:-
before the 90’s - RM 0.89
1990 - RM 1.10 (increased RM 0.21)
01/10/2000 - RM 1.20 (increased RM 0.10)
20/10/2001 - RM 1.30 (increased RM 0.10)
01/05/2002 - RM 1.32 (increased RM 0.02)
31/10/2002 - RM 1.33 (increased RM 0.01)
01/03/2003 - RM 1.35 (increased RM 0.02)
01/05/2004 - RM 1.37 (increased RM 0.02)
01/10/2004 - RM 1.42 (increased RM 0.05)
05/05/2005 - RM 1.52 (increased RM 0.10)
31/07/2005 - RM 1.62 (increased RM 0.10)
28/02/2006 - RM 1.92 (increased RM 0.30)
2007 - ????
(Extracted from Galvin Tan)

And on 18 Oct, Malaysia's Domestic Trade and Consumer Affairs Minister has re-iterated to the Malaysian public - "that the Government would keep its promise not to increase oil prices this year". So, be prepared for next year then!!!!!!

Next in line for an increase - Malaysia's Commercial Vehicle Licensing Board, had on 4 Oct 2007, stated that the Board is reviewing plans to allow for increase in taxi and bus fares respectively. The taxi operators had asked for 600% increase and bus operators had requested for a 100%. The Board said that, if approved, it could be implemented by 3rd quarter of 2008.

When transportation costs (am sure goods transportation companies will ask for it as well) increases, it will certainly cause a domino effect on almost any goods/materials/stuff in Malaysia as everything relied on transportation.

For Kuala Lumpur habitants, the City Hall Council may impose an entry fee if your vehicle enters the city centre. Apparently, it's to improve traffic conditions in the city centre. The proposal will be submitted to the Cabinet Committee early next year.
Tags: Transportation, Daily Expenses, Oil Price, Petrol, Domestic Trade and Consumer Affairs, Commercial Vehicle Licensing Board, Taxi Operators, Bus Operators, City Hall Council, Cabinet Committee

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5 Comments:

Anonymous FURB said...

Yeah, I feel in my gut that you are right about this. It is all in an attempt to cause a monetary panic, in order to create a North American Union super state like the EU.

Thanks for your post.

29 October, 2007 15:21  
Anonymous FURB said...

Dear Mr. Ong:
I fear that your post is entirely correct. This planned event will (in the eyes of those who are planning it) will cause an economic panic here in the United States, and will be the cause of the North American Community, a proposed Super-state, with the Union of Canada, the United States, and Mexico.

Thanks for your post. I think it is spot on.

29 October, 2007 15:25  
Blogger Johnny Ong said...

unfortunately it has to go that. there are some high-end investors coming together to put all this in place so that their investment rate of return is met.

29 October, 2007 15:45  
Blogger zewt said...

i dont think crude oil will wait till 2008 before hitting USD100 per barrel. It's the beginning of nov and it's almost there aready.

01 November, 2007 19:50  
Blogger Johnny Ong said...

the rich investors hiked up the oil prices at the expense of the world economy.

03 June, 2008 23:36  

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