Banana - 08Jan10 - posting rumours
Read the latest news that oil price has fallen to US119. Does it mean that that the recent petrol price hike will be reviewed? What about the price increases of goods and services? Will they come down. Will the fuel subsidy now being given to car owners be withdrawn? I have already claimed subsidy for both my vehicles............hehehehehe!!!!
Budiman
As reported in the newspaper few days ago, PM confirmed that the petrol price will be reviewed monthly beginning this September. The price will follow the market price and the government will subsidize up to 30 cents per liter and guaranteed that the petrol price will not go higher than RM2.70 for this year.
Every Birth Begins With Labour Pains
Budiman
Drove back from work just now, saw the sign board at petrol kiosk mentioned about pump price drop another 4 cents..
So far in Singapore, total pump price drop is 26 cents since 4 weeks ago....hoping to continue.
Budiman
Greetings.
Is it possible that food and other materials prices will decrease? But then again, prices for those items have been on the rise since donkey years so i wouldn't want to raise my expectations.
Perhaps it is possible that fuel prices will decrease and make things easier on us.
Pax vorbiscum.
Budiman
oil palm prices have not only decreased. they simply nose dived. and the players who have been laughing high and mighty the last couple of years when this essential food commodity climbed to +-rm4500.Originally Posted by praetor
but will cooking oil prices dip? heck, the players are now crying thier throats sore. and our govt is crying foul. cos we are very dependant on revenue from this commodity. we have, i heard, something like 2.5mil m/t of stock pile. where they store it and how much storage costs would amaze anybody who's able to count 1,2 3...
is this plunge good? frankly i absolutely despise the manipulation of the prices of essential global food products. they are not optional commodities. at over rm3k/mt, we are robbing the world's poor.
next on list will be prices of rice and other grain-foods. will they pull back downwards? its sadistic, disgusting, deplorable, inhumane, pathetic how some idiots can hold the rest of the world to ransom just so that they can tell the rest of the world that they can't spend ther ill begotten paper in the other world while their victims suffer n abject hunger and poverty.
Budiman
I think there are 2 sides to this recent development. On one side there may be reason to cheer as this 'MAY' mean a reduction in the price at the pump. [However, whether this translates to a general reduction in food and other prices here in M'sia is anyone's guess. Historically this never seems to happen here]
On the other side, the reason analyst feel the oil price is dropping is because of slowdown in demand by 2 of the worlds guzzlers. One because the entire nation is expected to glued to their TV's for a month.[That' just a pun] They expect demand to increase in China after the Olympics.
The other seems more worrying, the lack of future demand in the US is possibly due, and indicative of the impending slump there, which is expected to impact the world.
For us, it just might be a 'lose lose' situation either way.
Budiman
anybody following the oil prices debacle would have known that the whole world was synchronised in acknowledging that there is no shortage in supply and that demand was artificial and that stockpiles were building up. everybody knew that the rising prices was caused by the human greed through the mechanism called futures trading.
but mankind, not just people from bolehland, have such short memories.
when the sweets and deserts are served, when the prices come down, we sign a different tune. now idiot govts across the globe are cussing at the sudden drop in oil price - and thats because they got their butts burnt in a bad call on hedging at higher prices. now the lyrics sing of temporary disruption in demand to justify a temporary bear run. beneath their stinking breathe, they hope and expect and will support another, and more volatile, bull charge.
Budiman
if there was no shortage of supply then the price of crude would still be at USD25 per barrel. It has risen from there to USD$150 and it overshot there. Now it will consolidate, but will not go much lower.
See the post on Crude Oil Prices
"The individual has always had to struggle to keep from being overwhelmed by the tribe.
If you try it, you will be lonely often, and sometimes frightened.
But no price is too high to pay for the privilege of owning yourself."
– Friedrich Nietzsche.
Budiman
the oil sheikhs and barons were still pretending to playing keynesian economics by upping output in supposed attempt to achieve demand-supply equilibrium at lower prices. what a stupid load of bull crap - there were just riding on the crest of superlative profitability. there is no real demand other than that for excessive and unnecessary stockpile and speculation in the futures market. the idiots in this game in the oil palm sector are now vomitting blood. serve those bastards right. easy come for them, now let them appreciate it can also be easy go.
Budiman
Looks like by time BN govt gets round to repricing petrol pump price the price of Crude won't be low as we thought we can get ...
"The individual has always had to struggle to keep from being overwhelmed by the tribe.
If you try it, you will be lonely often, and sometimes frightened.
But no price is too high to pay for the privilege of owning yourself."
– Friedrich Nietzsche.
Budiman
http://biz.thestar.com.my/news/story...6&sec=business
Crude oil now at USD 96 per barrel... compared to the highs of USD 150 ... thats a 30%+ drop... how come petrol prices never come down by 30% instead drop by a measly 25sen...
It should have drop by 30% to 1.92 from 2.75 ...
Posting Permissions
Reply With Quote
