Oil prices posted its biggest single-day hike last Friday when it rose nearly US$11 hitting a new record of US$138 a barrel in New York.
"When we did our assessment, the price of petrol was RM3. It is RM3.45 now.
"When it was RM3, we gave a 30-sen subsidy. But that has been wiped out now with a 45-sen increase. So there are many issues we have to consider.
"As such, I won't give any undertaking not to increase petrol prices," said Abdullah.
Remember that statement? Read it here
Today, we read this: "No more hikes for this year," says Abdullah. There will be no further increase to the price of fuel in the country this year. This is despite the possibility of the global price of oil reaching US$200 per barrel. Prime Minister Abdullah said to stem any more increase, the government would have to think of alternative ways to finance its spending.(Read it here
What alternative ways available? Ya, the government might consider scrapping corruption and look at ways to legalize it without doing it illegally.
We have legalized civil servants' moonlighting and working in the night; we had legalized horse racing and bettings, we had legalized casinos, sports toto, 4-Ds; well, just add one more to it.