Tuesday, September 16, 2008

Oil Price Dropped Drastically

World oil price has dropped drastically in the futures market from a high of US$147.27 on just 11 July 2008. On 15 Sept 2008 (2300 hrs), the current oil prices in various futures exchanges were:-
* Crude oil for October is trading at US$92.40 a barrel on the New York Mercantile Exchange
* Brent crude oil for November is trading at US$90.40 a barrel on London's ICE Futures Europe
When our Malaysian government increased the fuel price on 6 June 2008 up to RM2.70 from RM1.92, the world oil price was trading at US$130 plus. When it was reduced to RM2.55 on 23 Aug 2008, the world oil price was at US$110 plus . It's already being traded at US$92 now, the fuel price should be re-priced to around RM1.92 (the fuel price before Jun 2008) or even lower.

Our faithful Prime Minister has said VERY LOUDLY that our fuel price would be priced according to world oil price and a price mechanism that would be effected every fifteen days. Excuse sir, the price has dropped way below all those oil prices you have mentioned. When will you wake up from your slumberland to review the fuel price again ........ to a much lower pricing.

Reading: Crude Oil Drops Below $92 as Lehman Adds to Demand Concern - Bloomberg
Tags: Oil Price, Crude Oil, Brent Crude Oil, New York Mercantile Exchange, ICE Futures Europe, Commodity, Futures



Anonymous Anonymous said...

He probably won't hear you. He is soundly asleep now..... It is fasting month, he would sleep for longer hours.... When he is finally awake, he has better things to do! lol...

16 September, 2008 23:04  
Blogger Borneo Falcon said...

I think our PM sleep most of the time, even when the government is about to change over

17 September, 2008 08:45  
Blogger Johnny Ong said...

cazzy - oh yeah, forgotten abt that

borneo - so u thot of the same too haha

17 September, 2008 09:12  
Blogger Unknown said...

i waiting for that moment!!....but haiz...i dont think current pm got time to deal with this because of the new gov...he already so headache about that...

17 September, 2008 10:15  
Blogger foongpc said...

He's in danger of being ousted, where got time to think about petrol price? LOL

17 September, 2008 12:18  
Blogger Johnny Ong said...

nkw@i - when headache he will go to sleep

foong - well, he said that bn is still in control. what is being ousted?

18 September, 2008 14:14  
Blogger =chuan guan= said...

who cares..he prepare to give his seat to tat najis liao...oppss..typo..is najib

19 September, 2008 00:09  
Blogger Johnny Ong said...

chuanguan - wah, u can type vely fast

23 September, 2008 11:40  

Post a comment

<< Home