Petrol price increase

The news :
*The Star, Petrol price up by 78sen, and will be reviewed monthly

PUTRAJAYA: The Government announced yesterday an increase in petrol and diesel prices, stating that it can no longer continue to subsidise fuel.
Prime Minister Datuk Seri Abdullah Ahmad Badawi said the new prices were still at a 30-sen per litre discount from market prices.
In other words, if the market price is RM3 per litre, Malaysians will be charged RM2.70 at the pump. He said the price would be adjusted monthly based on the global oil price.
Half empty or half full?: Azhan Sharom showing the difference of how much petrol one can buy with RM1 Wednesday and today at a petrol station in Kuala Terengganu.
“Malaysians still pay lower than the market prices as far as petrol is concerned,” he told a packed press conference when announcing the restructuring of the subsidy package.
Abdullah said that although the restructuring would result in consumers having to pay more, prices were still lower compared with Singapore and Thailand.
He said the Government would save RM13.7bil through the restructuring.
From the savings, he said RM4bil would go to the National Food Supply Guarantee Policy, RM1.5bil for subsidising cooking oil and RM400mil to subsidise rice imports to make the price uniform in peninsular Malaysia, Sabah and Sarawak.
The Government would also spend RM200mil on flour subsidy, RM100mil on bread subsidy and RM7.5bil was meant for contributions to the subsidies for petrol, diesel and gas.

By the way, Malaysians are NOT paying lesser than the subsidised price because the subsidised amount came from the citizens, which is from the income tax! It's 100% not government's subsidiary.

Another news : *Get ready for aftermath, government warned

PETALING JAYA: The Government must face the consequences of the fuel price hike, warns Fomca.
Its adviser Prof Datuk Hamdan Adnan said these included more people using public transportation and a possible increase in the crime rate.
He also said current salaries did not commensurate with the rise in fuel, food and rice prices for many Malaysians.
“If not adjusted, the current income is definitely not enough for the average consumer. If people cannot cope, there might also be a rise in the crime rate,'' he said yesterday.
Consumers Association of Penang president S.M. Mohamed Idris said it supported the withdrawal of subsidies.
“The money can be better spent to help the poor,'' he said.
Malaysian Muslim Consumers Association executive secretary Datuk Nadzim Johan told Bernama the increase was beyond control and consumers should spend within their means.
He hoped the Government would have a mechanism in place to prevent an increase in price of food items.
In Kota Kinabalu, Consumers Association of Sabah president Datuk Patrick Sindu said the price of goods was expected to increase between 10% and 20%.
He said the RM625 rebate for owners of cars less than 2,000cc or pick-up trucks and jeeps of up to 2,500cc was unlikely to offset the impact of the fuel price hike.

Noticed that the government is aware that the crime rate might increase if there're more people using the public transport and knows that the salaries of the citizens do not commensurate withall of the increased price on the daily need products. Although the government is aware with what menitoned but do they really care? We'll see what news will come up next. Will they fake it or leave it?

Also, increased price of cooking oil, flour, rice, pork and now, the petrol and gas. How ironic. Practically we have to really save up and spend lesser and be aware that the inflation will go up again and again til end of this year.