Malaysia cuts retail fuel prices to ease inflation
Published: October 14, 2008
KUALA LUMPUR, Malaysia: Malaysia's government announced a fresh cut in retail fuel prices Tuesday to ease inflation following the recent fall in global crude oil prices.
The pump price of gasoline will be slashed by 6 percent to 2.30 ringgit (66 U.S. cents) a liter from Wednesday, Prime Minister Abdullah Ahmad Badawi said in a statement. Diesel prices will be reduced by 8 percent to 2.20 ringgit (63 U.S. cents) per liter.
It was the biggest of three consecutive price cuts after the government hiked gasoline prices by a shocking 41 percent and diesel prices by 63 percent in June to curb a runaway subsidy bill.
"Because the global crude oil price has clearly fallen in recent times, the government has made the decision to speed up a cut in retail fuel prices to enable the public to enjoy the benefits sooner," Abdullah said.
The government has been struggling against public frustration over the rising cost of living. Inflation stood at 8.5 percent in August due to high transportation and food costs.
i felt so good that i left the car’s fuel tank at critical level not until tomorrow. you see, for someone’s who's very much concerned into environment thingy, this is surely very good news for us. what when i had made a great move to wait until the next day. what a relieve... what a great saving i had... i am so happy even if it's not that much. in other words, we must know of how to save whatever we can. at least there's something than nothing right. i don't care whether this involved politics or not, because i don't vote... *opsss* what about you people?
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