The rumours that have been flying recently were finally put to rest as effective today, the petrol pump prices have been increased to RM2.70. This is an increase of a whopping 78Sen, or 40.625% the highest petrol price increase for as long as I can remember. Consumer and industrial prices will now follow suit surely, if not slowly.
I am actually all for the removal of petrol subsidies. If I had it my way, I would in turn rechannel the savings to all targeted groups via the Inland Revenue Board. Of course, this is easier said than done.
In fact the decision to provide rebates to all motor vehicle users through postal order upon renewal of road tax is actually a good move. It eliminates the need to prevent foreign cars from filling up at local stations, as well as ensures that the rebates go to deserved citizens (driving small engine cars, that is).
I am nonetheless looking forward to find out the steps that the government is taking to ensure indirect users of petrol are not the ones who suffer from the rising price of petrol. These include students who commute to school through public transport and pay for food which is affected by the price increase. They also cover housewives and pensioners whom neither drive nor own motor vehicles.
It is still too early to see any immediate impact from the price increase apart from the fact that certain roads were severely jammed by cars queueing for petrol up till midnight yesterday. Some were turned away, a stark yet probable reminder of future things to come.
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