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Thursday, February 01, 2007

price of the oil..will be reduced or being increased again?

this is what iread in newspaper today as stated by NTR during interview...

"NTR said the government would monitor trends in global oil prices during the period before making any decision on the local fuel price.

However, he made clear that there was no guarantee of a price reduction after a review was done.

"We will review it. (But) do not misconstrue it to mean that we will lower fuel prices. A review does not mean that we will reduce prices.

"It is up to the Cabinet to decide. It is a question of our judgment on the matter,"

"According to the New York Mercantile Exchange, the price of crude oil paused at US$54 (RM189) a barrel on Monday as traders expected a rise in crude oil inventories in the United States.

On how a reduction in fuel prices would affect government finances, he said subsidies on fuel would remain high.

In February last year, the government announced a 30-sen hike in the prices of petrol and diesel to RM1.92 and RM1.58 per litre respectively, and the price of liquefied petroleum gas (LPG) to RM1.75 per kg."

So...what do you think about it?Will the price of oil will be reduced or the price will be increased again?Perhaps after the general election.If i'm not mistaken by the end of 2007.Hopefully the goverment will reduced the price to help the people in Malaysia.

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