Effective Sept 1 2008, the retail price of petrol will be based on the average monthly market price of world crude oil, more precisely world gasoline prices, with the subsidy rate mantained at 30 sen per litre.The present government is messing up everything. In the first place, the petrol price shouldn’t have been increased overnight by 42%. This is hasty and poor planning. It has obviously created severe problems of inflation, economy downturn and untold misery for the nation. A lot of retailers have increased the price of their goods and it will certainly not be that easy to ask them to review the prices again. Don’t expect the prices of foodstuff etc to decrease. We have gotten so used to hearing that the prices keep going up.
Let's just hope that the price will continue to slide down, not only for a greater relief to motorists, but also to further slow down the inflation rate and the rise of prices of goods.
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