Fill ‘er up. June 5, 2008Posted by Will in Environment, Personal, Society.
A litre of unleaded petrol in Malaysia now costs RM2.70(~USD0.80), a 40% increase over the previous price of RM1.92. As per usual motorists could be seen making a beeline for the nearest petrol station last night to “take maximum advantage” of the old subsidized fuel prices as the revision will come into effect at midnight.
Much consternation aside, it is not as bad as it looks. The government has announced that they will be awarding an annual RM625 rebate to each vehicle with an engine capacity <= 2000cc when you pay your road tax effective this July 1st.
What this basically means is that you will be recieving RM12 per week to absorb the new hike in prices. For those lazy with maths this means that if you have been pumping RM30 worth of fuel per week this rebate will be paying for the 40% hike. Any lower and you will be gaining a positive income, any more and you’ll feel some heat.
I’m cozying up to this change as it will provide those owning economy cars with more incentives to use less and at the same time perhaps encourage Malaysians to pursue alternative fuels or to practice efficient power management. Here’s hoping that the extra tax income generated will be wisely spent on upgrading our public transporation systems. Better yet, fix the goddamn potholes all over the country with REAL asphalt that could withstand severe rain corrosion (I swear mechanics are making a killing everywhere fixing wheel alignments and whatnot. Maybe it’s a conspiracy :O).
That’s not to say everything is fine and dandy however, undoubtly prices of almost everything else will escalate in tow and inflation was projected to hit 6% this year. Time to ask for those pay increments, or start carpooling.