Apparently Malaysian Finance Minister II had announced that since the world price of crude oil had risen to $178 per barrel, subsidy restructuring is inevitable soon. When the last price hike was announced on 4th June, the crude oil was priced at $138 per barrel.
Current petrol price is MYR2.70 with a subsidy of MYR0.30 per litre to offset market price of MYR3.00 at the time of announcement. With this new development, the price may rise to MYR3.15 per litre for Malaysians........
When Malaysian Government says "subsidy restructuring", it simply means "subsidy cut".
Malaysian Government terminology :
Subsidy restructuring = Subsidy cut
Price restructuring = Price Rise
That's another dig into my already shrinking monthly budget. Me and my trusted old Charade will be best friends for a longer time it seems. I can't afford a new car. When I renewed my insurance on Monday, the bank told me that my car was too old to qualify for a First Party Insurance Scheme. It means, if the Charade ever got into an accident, it might as well be declared a write-off total loss. It's THAT old and only worth a tiny penny! :-(
By the way, I spilled about 2 litres worth of petrol when I filled up on Wednesday at a Petrol Station in Bukit Baru, Melaka. In a desperate attempt to get the maximum litres of petrol, I tried to follow the recommended tip of filling in the "minimum" mode. Normally those Petrol Nozzle Trigger has THREE modes but somehow this particular station installed Triggers with only TWO modes. I decided to "manually" have "minimum mode" by literally holding the Trigger and controlling the flow with hand. As the petrol reached the top, the Trigger suddenly got stuck and wouldn't let go. WOAHH! The petrol spilled out like mini Niagara Fall all over the floor and MY TROUSERS! :-[
I screamed not knowing whether to laugh or cry, frantically wriggled the stupid Nozzle free. The elderly station attendant smiled saying something in a warm friendly sarcasm how I managed to throw away precious petrol when everybody else is struggling with price hike.