Syed Hamid: Public transport fares not dictated by world oil prices


So there.

Dateline 2016-03-10, Malay Mail Online:

Fares for land public transport such as buses and taxis are not dictated by world oil prices even though the latter had been declining of late.

Land Public Transport Commission (SPAD) chairman Tan Sri Syed Hamid Albar said petrol and diesel contributed merely 10 per cent towards the operating costs of companies providing public transport services.

“There are other influencing elements, such as the goods and services tax (GST) imposed on vehicle spare parts.

“Aside from that, the companies have to bear with higher insurance premiums and fluctuating foreign exchange rates,” he told a press conference here today.

 

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