FUEL PRICE HIKE - THE IMPACT ON MALAYSIA

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FUEL PRICE HIKE - THE IMPACT ON MALAYSIA

Post  barrenwizard on Fri Jun 06, 2008 4:57 pm

The New Straigts Time wrote:FUEL PRICE HIKE: Life goes on for consumers
By : Anis Ibrahim and Melissa Darlyne Chow

A study in contrast: Long petrol queues in Kota Kinabalu at 11.30pm on Wednesday (left) and a quiet day at another station (below) yesterday

JOHOR BARU: Like anywhere else, life goes on for residents here after the fuel price hike, although many will be cutting back on luxuries.

For Choo Lapy Bee, spending more on petrol was unavoidable.

"Things are already tight now but we still have to drive to work and take the children to school, which means my family must give up 'unnecessary' things.

"We are used to eating beras wangi Siam but I'll start buying a lower-grade rice."

Choo, 35, and her husband own a shop selling household goods. They have two children aged 8 and 6.

"We usually take our children on trips every six months. These are domestic holidays, but now I don't think we can even afford local trips."

Hoe Thien Lai, 45, said he would have to start looking at cheaper food alternatives.

Pointing at his lunch, he said in jest: "I should give up ikan goreng (fried fish) and go for ikan bilis instead."


Hoe, who has been running a shoe shop for the past 15 years, said the hike in fuel price has put a further dent in his wallet.

"I have six company vehicles. It used to cost me RM65 to fill each tank, now it costs RM115."

When asked how he would cope with the price increase, Hoe said his family had already cut back on luxury items.

"I cannot cut further. I have to look after 45 employees."

Aishah Ibrahim, 52, who sells traditional kuih said she would be going to cheaper outlets to buy ingredients.

"I'll be going to wholesale markets and pasar tani (farmers' markets).

"We may even have to reduce our kuih size."

Aishah said her family would also have to be thrifty at home and not waste electricity or water.

In George Town, hawker Tan Lye Choon said he rarely drove, so the fuel price hike has a minimal effect on him.

Tan, 34, father of two children, sells laksa at Bandar Baru Air Itam here and earns about RM1,200 a month.

"I use the car twice a week to take the children to the supermarket."

Tan, who has been selling laksa for about a year, said he would not increase the price of his laksa as this would drive his customers away.

Tan and his wife, Ooi Guat Khim, 33, who works as a clerk, have a combined income of RM2,200 a month.

Knowing how expensive it is to engage the services of a babysitter, the couple's two young daughters are being cared for by his mother-in-law.

Technical assistant Kok Yip Weng, 38, said he had yet to feel the impact of the fuel price hike. Kok said he would know after a month.

"I pay attention to my fuel usage and I record my mileage.

"If the fuel expenses eat into other expenditure, I would have to act," he said, adding that he spends RM300 a month on petrol.

Kok, who earns RM2,600 a month, said he and his wife Milar Myutay, 46, had discussed ways to economise.

He would probably walk to work instead of using his motorcycle.

"I will also have to plan my errands to cut down on driving or riding."

But he is bracing for increases in the prices of other goods and services.

_________________

"MAN IS A PUPIL, PAIN IS HIS TEACHER"

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FUEL PRICE HIKE: Oil exploration costs Petronas a bomb.

Post  barrenwizard on Fri Jun 06, 2008 4:58 pm

The New Straits Time wrote:KUALA LUMPUR: The national oil company Petronas, which has paid the government about RM335.7 billion since its incorporation, now faces large rises in exploration costs at a much higher rate than the increase, in percentage terms, of oil prices.

"A lot of focus is placed on the high oil prices.

"There is very little talk about costs," its president and chief executive officer, Tan Sri Mohd Hassan Marican, said yesterday.

He said exploration costs had increased by about 200 per cent over the past three years.

"We are scraping the barrel. We are bringing up five million or 10 million barrels... Gone are the days of 100 million barrels.

"When you continue to develop the smaller reservoirs, it is costly. When you go further and further away from the shore, it adds to the cost."

In addition, the national oil company is going into deep and ultra-deep water development and the cost is tremendous, Mohd Hassan said.

He said the cost of drilling in shallow waters was now US$7 million (RM22.8 million) compared with US$3 million previously, as almost every cost related to exploration such as rigs and vessel rates, had gone up.

"Today, developing an ultra-deep water exploration well will cost an oil company about US$100 million."

Citing an example, Mohd Hassan said Exxon Mobil made about US$40 billion last year, an increase of only US$1 billion from 2006, in an environment of high crude oil prices.

"That is the world's biggest, most efficient and most well-run oil company. Margins have been eroded.

"That is what we are facing today. Bearing in mind, we are now also pushing into ultra-deep water.

"The Kikeh field (the country's first deep water field located offshore off Sabah) is about 1,300m deep.

"We are going to the Gemusut field (offshore Sabah) which is about 1,800m.

"We are pushing further and further into what is really a frontier to us.

"We have drilled 2,300m in Morocco (in an offshore area near the Moroccan capital Rabat)."

Mohd Hassan said new technology was needed as the world was facing the challenge of looking for new sources of oil in these frontier areas. -- Bernama

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"MAN IS A PUPIL, PAIN IS HIS TEACHER"

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Dr M: Take steps to lessen burden

Post  barrenwizard on Fri Jun 06, 2008 5:02 pm

The New Straits Time wrote:KUALA LUMPUR: Former prime minister Tun Dr Mahathir Mohamad said steps should be taken to lessen the burden of the people due to the hike in the price of fuel.

He said Malaysia could not avoid the negative effects of the worldwide increase in fuel prices but there must be ways to mitigate them.

"I am sure the government will not just pass down all these problems to the people as the review of oil prices every month seems to suggest," he said yesterday in his blog www. chedet.com.

The restructuring of fuel subsidies announced on Wed-nesday involved capping the government's cost to about 30 sen per litre of petrol, a move advocated by economists to prevent the budget from sliding out of control.

The pump price would be adjusted monthly according to world prices after subtracting the fixed subsidy.

Dr Mahathir said the price of crude oil had increased by 400 per cent in the last three years and that prices of other products would go up soon.

"I believe the people expect the increase in the price of petrol. But what they are angry about is the quantum and the suddenness."

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"MAN IS A PUPIL, PAIN IS HIS TEACHER"

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Re: FUEL PRICE HIKE - THE IMPACT ON MALAYSIA

Post  zxr250 on Mon Jun 09, 2008 2:12 am

Geng semua kat sini redha ke dgn kenaikan minyak tanpa sebab munasabah ni? Apa yang aku heran depa bandingkan harga minyak dgn pasaran global dan bandingkan harga minyak dengan negara2 yang tak de lombong minyak.Negara2 mcm singapura,thailand dll yg dibandingkan tu semuanya yang beli minyak dari luar.Depa takut nak bandingkan dengan Brunei negara pengeluar minyak yang setanding dgn Malaysia. Kita ni Malaysia ada lombong sendiri.Sehari dapat 650,000 tong minyak dan 400,000 tong je yg digunakan sendiri. 250,000 tong lagi dijual keluar.Kalau harga minyak naik bertambah le depa untung.Kenapa nak susahkan rakyat naikkan harga benda yang ada dalam negara kita senidri?Bukan tak cukup malah lebih lagi.
Fikirkan pula pendapatan perkapita di singapura dan USA yang depa nak banding tu. Pendapatan kita lebih kecik dari income org spore dan USA.

Bukan aku nak timbul kekecohan tapi kita sebagai rakyat bukan tak de otak utk fikir. Perbuatan depa ni dah melampau sangat. Jangan fikir minyak je naik, bila minyak naik barang2 lain automatik akan naik. Aku dulu start motor aku 2 hari sekali sekrang kena start moto aku 4 hari sekali sebab motor aku duk kat rumah je tak bawak pun. Kalau dah tak cukup makan kena jual la motor aku ni nampaknye. Sape nak beli zxr250 pm aku. TipTop condition beli tak yah repair apa dah. Cat original.Lain2 semua ori lagi kecuali exost je lagi best punya tukar.Enjin smooth.Bunyi sedap dan lazat.

Kita rakyat pilih wakil rakyat.RAkyat yang berhak buat keputusan setuju ke tidak. Wakil rakyat tu cuma wakil kita je tak de power apa pun. Kita ni kena jaga agar wakil kita tu buat apa kita nak.Jangan penaya kita untukkesenangan diri sendiri. Aku tak taulah kenapa harga minyak ni naik teruk sangat. Kalau ada sebab logik aku pun boleh consider ni sebab yang dia bagi tak masuk akal. Apa kata geng2 semua jgn duk terima je kita ada hak untuk bersuara sebab kita ni rakyat.

zxr250

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