Hard to justify huge, one-off oil price hike
Aloysius TingPublished: Mar 17, 2006 4:27 PM | Updated: Jan 29, 2008 6:21 PM
In light of the recent world oil price adjustments, the local fuel price increase is inevitable.
However, to cushion the impact of such an increase on the populace, the government should adjust petrol price or that of any essential commodity perhaps annually using a predetermined formula like the movement in the consumer price index.
It is always difficult to sell a huge, one-off increase however justified.
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