Gas prices raised by 40% and diesel prices raised by 67% overnight in Malaysia

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Jun 10, 2008 | 09:45 PM

LexFather

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Gas prices raised by 40% and diesel prices raised by 67% overnight in Malaysia

If you thought that a couple of cents raise in fuel prices is pretty annoying we wonder what you’d say if you woke up one morning and saw that prices at your pump increased by 40% overnight! Well, that’s exactly what happened in Malaysia yesterday as the government enforced an increase of 40% in gasoline prices and a whopping +67% in diesel fuel prices. As of Thursday, Malaysians pay $0.87 per liter or $3.30 a gallon for gasoline (from $0.61 and $2.32 respectively) and $3.04 per gallon (from $1.82) for diesel.

According to government officials, while subsidies kept fuel prices in Malaysia among the lowest in Southeast Asia, it could no longer afford funding them as it is expected to cost the treasury more than $14 billion this year.

http://carscoop.blogspot.com/2008/06...as-prices.html

Jun 10, 2008 | 09:46 PM

LexFather

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Imagine not filling up after work and you go home and go to sleep and you wake up and drive to the gas station and see the price.

Then you drive around and they are all the same.

Jun 10, 2008 | 09:55 PM

rominl

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From: Lovely OC

wow, that's a heart attack

Jun 10, 2008 | 11:11 PM

bitkahuna

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Welcome to price controls. Only a government can do something that stupid.

Jun 10, 2008 | 11:33 PM

Ay-nako

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From: Vegasss

wow im speechless

Jun 11, 2008 | 12:43 AM

Hil

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From: UCLA

damn that would suck.. but it costs more here still so.. i'd still rather have their prices

Jun 11, 2008 | 12:59 AM

Caoboy

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From: CA

Quote:

Originally Posted by high0ncarz

damn that would suck.. but it costs more here still so.. i'd still rather have their prices

They don't get our wages.

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Jun 11, 2008 | 01:48 AM

Vladi

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From: Florida

I feel your pain! Last time I filled up a car back home it set me back $120 for full tank or $7,50 for a gallon. So gas in US is still cheap if you ask me but by no means I am justifying constant price jumps.

Jun 11, 2008 | 05:35 AM

#10

4TehNguyen

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From: Houston, Texas

Quote:

Originally Posted by Caoboy

Venezuela does the same thing. Don't they have some of the lowest gas prices in the world? It'd be nice for us to pay some crazy low price of 12 cents or whatever they are paying.

you wouldnt want that venezuela formulation in your car, its probably terrible

Jun 11, 2008 | 07:17 AM

#11

jracerlmn

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From: California

lol venezuela...

as much as they complain about us, we're one of the few countries that can actually process their crappy oil

Jun 11, 2008 | 11:20 AM

#12

RON430

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From: California

Word is there is a lot of grumbling in India in reduction of subsidies as well. But China is out there helping the world by not only doing nothing on subsidies but the word is that their consumption of oil has increased 25% since the quake. It's a small world afterall.