
MALAYSIANS were paying RM1.52 per litre for petrol when crude oil was below US$50 per barrel 3½ years ago.
Today, we are paying RM1.90 per litre as crude oil hovered at US$48 per barrel yesterday.
Based on crude oil price at US$50 per barrel, the market price for RON 97, the most popular petrol grade sold at local pumps, is estimated at RM1.40 per litre. RON 97 accounts for about 80% of the more than one billion litres of fuel sold at local pumps every month, according to some estimates.
Analysts believe that pump operators have been paying duties for all fuel products since October. At current prices, that would translate to about 50 sen per litre in extra fuel revenue for the Government.
The volatility in the international crude oil market and the lack of transparency on how local fuel price is calculated make it very difficult to accurately estimate how much duty the Government has collected in recent weeks.
Crude oil hit a record US$147 in July, resulting in the Government having had to subsidise every drop sold at local pumps.
The global financial crisis turned worse after that, sending crude oil prices plunging. This resulted in six price cuts at local petrol pumps since August. Read More

“Tapi saya fikir dalam keadaan sekarang adalah susah bagi mereka (kerajaan Barisan Nasional) untuk gagalkan kehendak dan kebangkitan rakyat,” jelas beliau.








