Rising oil price is so painful for many of us. Even if Ron 95 increased by RM0.05, we can instantly see a big impact on our cost of living. In my previous post, oil price is expected to increase to USD106 per barrel, and the number is now heading to USD106, when the market closed last week at USD105.08.
I am waiting for reversal or retracement for crude oil price in next week. Hope it will happen eventhough it is quite impossible if Libyan problem still can’t be solved. Increased in oil price will make US Dollar in pain because US is a consumer country. When they have to expense more for oil, their consumer spending will be high thus will give negative impact for USD. That’s why Malaysia Ringgit is stronger than US Dollar (actually not that stronger… US Dollar is devaluing).
At the same time, our government also monitoring the oil price movement. Even though they said government can still able to support the current rising, I believe they will increase the Ron 95 at anytime.
World oil price is increasing… sure they will do something even we have Petronas here.
Wait and see, I hope the riot in Arabian country ended as soon as possible.