Did you read Malaysiakini and Nanyang Siang Pau? If not… then read on.
“Fuel subsidies for the independent power producers (IPPs) are up for review, Minister in Prime Minister’s Department Idris Jala told Malaysiakini in an interview”.
Nanyang Siang Pau headlined a report quoting sources that the government will not increase the price of RON95 petrol for the time being. However a price hike for electricity is expected to be announced on May 25.
The report says the government fears a RON95 petrol price hike will prompt greater disgruntlement, therefore it may choose to increase the electricity tariff first. The impact of an electricity tariff hike would be smaller than a hike in the RON95 petrol price, hence it is a better choice for the government, sources from the cabinet tell the newspaper.
The report also said that the government had approved the hike and had scheduled to announce it last Thursday, but it was postponed after the announcement of a sugar price hike in the same week, to avoid public anger. However, industrial consumers are expected to face the brunt of the new electricity tariff structure, with the impact on household consumers not likely to be significant”
By the way, it is not a surprise to me if they did not increase Ron 95 or Ron 97 price because crude oil price is currently on bearish mode (short term). Unless there is a new high on crude oil price so they have a strong reason to increase Ron 95 and Ron 97.
Crude oil price is bearish… so they have no reason to increase Ron 95 price. LOL!
Ok, it is the time to…..
Opss.. I am blogging in the dark!