Oil Price Crashing, Gomen Bantu Petronas & Orang Kaya

Here is today's news :

• Oil hovers above $79 after US crude supply jump
• 
  
• SINGAPORE (AP) — Oil hovered above $79 a barrel Wednesday in Asia after a report showed a surprise increase in U.S. crude supplies, suggesting demand remains weak.
• Benchmark oil for August delivery was down 12 cents at $79.24 a barrel 
• Crude has fallen to near eight-month lows from $106 less than two months ago 
• crude to soon drop to as low as the mid-$60s.
• heating oil was down 0.1 cent at $2.57 per gallon while gasoline futures slid 1.1 cents at $2.51 per gallon. 

So the oil price is crashing all over the world. 

Actually oil prices have been going down for some time. On June 7th the price of RON97 was cut 10 sen per litre from RM2.90 down to RM2.80. But this is the orang kaya petrol.All the orang kaya were happy because the Gomen reduced the price of expensive RON 97 gas.  So bila harga minyak dunia turun, Gomen bantu orang kaya dulu. 

The price of RON 95, the orang miskin petrol has NOT been reduced. Why? Pasal apa Gomen nak bantu orang kaya dulu? Nak jaga untung Petronas saja. Bila nak bantu orang miskin ? The bulk of petrol sold (by volume) has to be RON 95. It is the poor peoples' petrol.

Now the price of oil is crashing all over the world. They are now already predicting oil at USD60 per barrel. Some analysts say even USD50 per barrel is possible this year.

This means it will be a terrible time for the oil industry and the oil and gas business. Folks say the cost of production of oil is now above USD45 per barrel. Even if oil hits USD60 per barrel, the entire oil industry is going to suffer really, really thin margins.  If oil price hits USD50 per barrel, mampus lah O & G industry.

Anyway, the price of oil is dropping, Can the Gomen please reduce the price of RON 95 as well. Itu orang miskin punya minyak. I have to fill my tank as well ok.  Petronas sudah kaya. 


Please pass the lower oil prices to us the consumers. Thank you.