Crude Oil Price down to US$90 - Malaysiakini

On July 3, 2008, crude oil price shot up to US$145.85.

On May 21, 2008 it was traded at US$130.28.

On March 2008 it was traded at US$109.85.

On Jan 7, 2008 it was traded at US$97.91. On Jan 2008, motorist pays RM1.92 per litre for petrol.



Now, October 6, 2008 the crude oil price is US$90.41.

That means the price of crude oil has dropped by 38.01% since July 3.

On June 5, 2008, the government increase the price of petrol from RM1.92 to RM2.70 per litre. That's 40.63% increase.

Now the price of petrol has been reduced to RM2.45 (since September 25, 2008) - the increase is reduced to only 27.60%.

But the crude oil has dropped 38%. In simple arithmetic, the price of petrol should be reduced by 73sen (from RM2.70), i.e. it should be RM1.97 per litre. Could the government please adjust it accordingly? -Maverickysm