YOURSAY | ‘Weekly float for fuel spells bad news for inflation.’
Rafizi praises Guan Eng for swift action, expects RON95 to be at RM1.90 per litre
Semi Value: I think this (the weekly float system of fuel prices) is bad. Before the price freeze, the prices of goods kept increasing due to the weekly changes.
There is no way prices of goods will come down even if the petrol price drops to RM1.50 per litre.
Since May, however, the prices of goods have stabilised. The rakyat don’t mind paying at RM2.20 and allowing the government to use the profit for the country.
Wira: We need price stability, not price volatility. Weekly uncertainty is bad for inflation.
Eagle: Yes, there must be price stability. Once it is RM2.20 per litre of RON95, just keep it there. What is so great about falling prices?
Plus, this is not Rafizi Ramli’s doing. There is nothing the PKR leader can be proud of. Subsidising fuel is the worst thing that can happen. It is literally burning money away.
Have you seen people switch off their engines while waiting for their children outside schools? How often do we see couples drive separate cars to the same function? Or zoom out to the shops even though it is within walking distance?
Subsidising fuel is waste. In fact, the government should think of making 20 or 30 sen out of it to cover its deficit.
It looks like Finance Minister Lim Guan Eng is no better than his predecessor Najib Abdul Razak, wasting money on subsidies and handouts.
Pat20231: I hope this makes you happy, Rafizi. No need to bother about what the falling oil price is doing to the government coffers.
No need to bother about what the US-China trade war is doing to the world economy, and how a looted and battered Malaysia has to cope.
Just pose for photographs with you buddy from the dark side. Great work Rafizi, keep at it.
People Power: Rafizi, keep up the good job. If you really love this nation, please continue to act as check and balance for the Harapan government, but make sure you have the courage to voice out against those bigots from Umno and PAS as well.
Cocomomo: Don’t take undeserved credit for something which the Pakatan Harapan government was already planning to do.
Spend some time resolving issues within Harapan, and help it become more firmly established as a solid coalition, not the petty quarrelsome one we have now. Do something more positive.
Anonymous: Rafizi, I really don't think Lim made the announcement that the price of RON95 would come down to RM1.50 per litre because of your letter.
I am sure many of us here do not mind paying RM2.20 if the extra is used to offset the burden of the government. We are just asking for a clean government and as for the rest, we are willing to give and take.
Anonymous_1527925538: Good, Harapan is being sensitive to help the rakyat whenever they can. Keep that up and rakyat will support you in the 15th general election.
Majority Must Safeguard Minority Rights: Indeed, I think this is good for the rakyat.
The price of oil has been plunging, but Lim and Prime Minister Dr Mahathir Mohamad are too busy to realise this that they are overcharging the rakyat.
Togodtheglory: I can't wait for Najib to take credit for this.
Guan Eng: Najib's RM120m fuel tax claim is a lie
Wira: Lim, Najib's fuel claim contains some truth, otherwise you would not return to the weekly float. However, I think you have a very poor understanding of the mechanics of inflation.
Basically, we need price stability to control inflation. Just collect a fuel tax when the price of RON95 is below RM2.20 per litre and give a fuel subsidy when it’s above that.
As a net fossil energy producer, we gain more giving subsidies when the price of oil is high. Please don't float fuel prices again just because Najib said so.
For inflation control, you need to ensure the same fuel price is available across the board to everyone, including merchants and traders.
If they are affected by higher fuel prices for their goods after you target your fuel subsidy to only the B40, the traders will have a reason to increase prices, which will be bad for inflation.
Kwong: But didn't Rafizi just say that the price of RON95 petrol would be RM1.90 per litre or less?
So, how much did this 30 sen per litre tax net the government in revenue? Lim said Najib lied as it is not RM120 million, so how much was it?
And to be honest, global oil prices were already dropping since late October. If Najib did not raise the fact that the government has been collecting “fuel tax” from us since then, it is very unlikely that petrol prices would be reduced next month.
This round Najib wins.
Ultimately: Yes, Najib, we understand that the fuel price was subsidised all this while when the price was higher. Where should that subsidy come from, your hidden stash?
Now when it dips, we are paying back. Let the long-term price fluctuation determine if the government should review the price.
Putrajaya should also be transparent with the subsidy versus surplus and reduce the pump price if the slump is sustained. That is all we ask.
Panorama123: The plummeting crude oil prices will only be a short-term phenomenon and the pass-on effect to consumers will only be minimal.
Once crude oil prices fluctuate in a volatile manner in 2019 or spike steeply in the medium term, the weekly price adjustments will create havoc for both petrol dealers and the rakyat.
The above is a selection of comments posted by Malaysiakini subscribers. Only paying subscribers can post comments. Over the past one year, Malaysiakinians have posted over 100,000 comments. Join the Malaysiakini community and help set the news agenda. Subscribe now.
These comments are compiled to reflect the views of Malaysiakini subscribers on matters of public interest. Malaysiakini does not intend to represent these views as fact.
