Friday, November 21, 2008

Oil Price slump to the lowest!

Closed below USD50


Yesterday the oil price were traded below USD50 per barrel, the lowest since January 07 from the source that i read on the net. The price now is USD49.62, reduced USD4 from the last price it had been traded, in line with fearing the worsening recession.

Now situation is going back to normal, price is fluctuating in tandem with lower oil prices than before.

In Malaysia here, cars have been seen higher volume on the road back, thanks to lower oil price but this scenario wont be lasting long, as the price will be increasing sooner when the recession is recovering.

Not to forget, the reduction further of oil price in Malaysia petrol station is eagerly waiting for all road users.

Perhaps more lower that usual RM0.15 every reduction that Government done because the price globally is lower than the stage where we had to pay RM1.92 for a litre fuel. If that will become reality, it is really a good news for me and thousand more like me out there as we can save much more money in our pocket.

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Speed up for mass transit development for Klang Valley

From my observation from the last recession, it will be okay in the next 6 months or at most it will takes to a year.

The situation that time will be different, the price all will be at normal price back and people will start feeling the pinch just like when Government drastically gone up the fuel price RM0.78 cents higher.

The rest were all history, people have changed their lifestyle and how they spent daily lives.

I fear that Malaysia Government are realized about the necessity to speed up building up the mass transit with the money they can save by not giving oil "subsidy" anymore.

They should not just lay down and satisfied that they are no longer have to "subsidise" rakyat (people in english) anymore but they have to implement projects for mass transit as soon as possible with an additional money from "subsidy" money plus the allocation from RM7b fiscal plan, which from it, Government plan to allocate quite hefty amount for transportation,transits and roads.

I applaud with Government move by having discussion will all highway concessionaires regarding the disclosure agreement to be heard to public as they feel that people have rights and deserve to let know of contents of the agreement, since everything will goes back to people and it is unfair to people,cause the agreement between those parties, but end up people that have to pay everything according to the agreement.

I was hoping few days back eagerly waiting for big news from Plus, our major highway concessionair to bring down the toll rates which i heard from the news but find out dismay as the ridiculous move lower toll rates from "Corporate Scheme Responsibility" by introducing lower rates to vehicle class 1 (private vehicle like car,mpv etc) at non-peak time 12am until 7am, and at the same time including Festive season.

Does it a good move by introducing lower rates for certain time and especially during festive season? Who will taste the lower rates? and do you want to see highways packed during festive season between these time(12am -7am)? Cannot you justify the lower toll rates at all time so all people will get chance for lower price?

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