Gas prices raised by 40% and diesel prices raised by 67% overnight in Malaysia
#1
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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
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
#4
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Welcome to price controls. Only a government can do something that stupid.
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#9
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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.
#12
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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.
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