Tuesday, December 02, 2008

Petrol price down by 10 Sen tomorrow

Petrol prices: Another 10 sen cut to RM1.90

News from Malaysiakini.com

The government has cut petrol prices by another 5 percent, bringing pump prices down by 10 sen per litre as global crude prices continued to ease.

The pump price of RON97 petrol will now be RM1.90 a litre - down from RM2 - while both RON92 petrol and diesel will be RM1.80 effective midnight.

Crude oil price is now hovering at US$49.00


Source: www.malaysiakini.com

Note: Steel bar price is now RM1,900 per ton. It went up as high as RM4,300 per ton two months ago. Cement price and steel related products are expected to be lowered in view of the global recession and the weak market sentiments. Many property developers are observed to have postponed the launching of the various housing schemes and the concerns by purchasers having difficulties to obtain bank loans.

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9 comments:

hasilox said...

Food prices never come down to the same level as before

Moo.... said...

What a nice timing. Can travel more in the Merc that Bayi gave you during your birthday.

Only hope that the second hand value of your old German shepherd will not dropped drastically?

Cheers and happy driving........

Maverick SM said...

Hasilox,

You are right; for whatever goes up will come down except inflationary precepts.

Moo,

Ya, my old German Shepherd is worth 30% of what it would have been one year ago.

It's okay lah; I got Bayi to buy me another and fuel is down.

Sameon said...

It is still good news for us although food prices still the same. At least I can bring my family 'pusing-pusing' on Hari Raya Haji this monday...

Raison D'etre said...

Mav,

Steel makers has no choice but to drive down their price as the world market has gone limp, but so far the more monopolistic cement producers have remained firm on their pricing.

CIDB's stats (as at June08) points to a more than 60 percent contraction in number of projects.

Can't wait to get the full year review to see how bad the sector had been hit, but even in the private arena, tenders have slowed to a halt these past few months.

Most developers are just contend with completing their on going projects.

Actual kick starting (unlike the current lip service) the many RMK9 projects should be a good boost, more than the so-called stimulus package.

Point to ponder: What happens if every worker rejects the 3 percent EPF reduction and maintains contribution at 11 percent?

That's whats happening in my office. :)

God bless

domino said...

Baguslah turun lagi harga minyak. Senang sikit nanti. Harap kalau boleh kalau lagi turun, lagi cantik. hehe..

RaZ said...

Recession is a state of mind. As is boom town charlie.

When people perceive and anticipate bad times, it will be reflected in the growth rates for the coming months/quarter/year.

Economic growth is about anticipation of greater economic activity.

Not many economist place the importance of sentiment in their calculation or formulas for predicting economic activities.

What is more interesting is the role and effect of media on the sentiments of the people.

So if the media (including your blog, Mav) say we are in recession and your audience believe and accept that, then we are!

No need for God to help us. Malaysia has had its share of recessions and boom times. This will be the third time for me. For those of you who are younger, learn!

RaZ said...

Oops.. Sorry, posted on wrong article. Cheh.. I guess I'm getting to old for this shit..

Kenny Ng said...

After calculated the current oil price, we are paying subsidy to govt instead of they paying it to us.