"The new price of premium leaded petrol (ULG 97) is RM2.70 per litre beginning midnight tonight, it was announced a moment ago. The price for ULG 92 petrol per litre went up by 74 sen to RM2.62. Diesel will go up by RM1 per litre to RM2.58. The 78 sen hike or 40 per cent increase for the ULG 97 petrol is still below the anticipated RM4 per litre price projected earlier and among the cheapest in Asia. The announcement was made by Prime Minister Datuk Seri Abdullah Ahmad Badawi at a news conference."
Hooray! Finally the end of fuel subsidy. Going forward, this country will be operating in a different gear...the gear of efficiency! I, for one is pleased with this announcement as for the first time my taxes will be going to real important projects instead of fuel subsidies. Can you imagine, out of the RM100,000 of taxes I paid, 1/3rd of it goes to fuel subsidies. What a waste.
I suspect the following events will start to dictate the lifestyles of Malaysians.
1. Frivolous road trips will be reduced;
2. Efficient cars will be more sought after;
3. Public transport will be seen in a new light;
4. Research in alternative energy will increase; and
5. Malaysians will start to be more energy efficient.
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