Petrol Prices Drop in Malaysia

December 3, 2008

From the New Straits Times Online (change of loyalty here)

JOHOR BARU: Pump petrol prices will be further lowered before Hari Raya Aidiladha next week, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said yesterday.
He, however, declined to reveal the exact quantum of the price reduction, only saying that it would not be greater than the previous reduction of 15 sen per litre.

Shahrir was speaking at the closing of a business development seminar for traders and small enterprises at a hotel here.

The minister said there was a possibility that the price of diesel would be higher than that of petrol after the price revision.

“Now, we are facing an extraordinary situation, where diesel may be priced higher than petrol at the pump, and that’s the reason for the continued 43 sen subsidy for diesel as the price of diesel has become almost at par with petrol,” he said.

I’m curious when exactly gas prices will start following market prices.

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Petrol Prices Drop in Malaysia

November 21, 2008

Taken from the pages of Bernama and The Star Malaysia:

Fuel down by 15sen (updated)

KUALA LUMPUR (Tues, Nov 18): Petrol and diesel will be sold 15sen cheaper per litre from Tuesday onwards following the Government’s decision to lower fuel prices in tandem with the downward trend of global oil prices.

The pump price of RON97 petrol will be RM2 a litre from RM2.15 while the retail price of RON92 petrol and diesel is RM1.90 a litre, Deputy Prime Minister Datuk Seri Najib Tun Razak said in a statement on Monday.

The new prices are effective from midnight Monday.

He said this is the fifth downward revision since August in honouring the Government’s promise to the people to lower fuel prices if oil prices dwindled in the world market.

Najib hoped traders would also lower prices of goods and services following the reduction in fuel prices to enable the people to reap the full benefits of cheaper fuel.

The people should continue to use petrol and diesel sparingly despite the lower price in line with the government’s efficient energy consumption plan, said Najib, who is also Finance Minister.

Fuel prices were last reduced on Nov 1. – Bernama

Linking to my other article on comparative pricing, the US gas price on 18th Nov is RM1.97 per liter (USD2.075 per gallon). You wonder, why do we have a subsidy if our prices are the same as US prices?

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Petrol Prices Drop in Malaysia

November 8, 2008

Taken from the pages of The Star online:Petrol prices cut by 15 sen per litre

PUTRAJAYA Oct 31: Petrol and diesel prices will go down 15 sen a litre from 12.01am on Saturday – the fourth reduction since August.

The new price of a litre of RON97 will be RM2.15 from RM2.30; RON92 will be RM2.05 from RM2.20; and diesel will be RM2.05 from RM2.20.

The prices will be reduced so that the people could enjoy the benefit of the recent drastic drop in global fuel prices, said Prime Minister Datuk Abdullah Ahmad Badawi in a statement on Friday.

The Star reported on Friday that petrol price will go down by 15sen and that petrol dealers expect another round of price cuts on Nov 15.

Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said that if the world crude oil price continued to drop at the present rate, local pump prices would likely revert to the pre-June price of RM1.92 per litre.

Linking to my other article on comparitive pricing, the US gas price on 6th Nov is RM2.16 per liter (USD2.328 per gallon). You wonder, why do we have a subsidy if our prices are the same as US prices?

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Malaysia Gas Prices – Compare against US Prices

October 30, 2008

Hah, I found an almost mindless way to compare US pump prices to Malaysian pump prices.

  1. Go to gasbuddy.com to get a US pump price. For example, on the 28th of September, 2008, the average price was 2.624/gallon. BTW, the price one month ago was 3.619/gallon.
  2. Go to google.com, and type “convert 2.624 dollars per gallon to ringgit per liter,” or whatever the US gallon price is. In this case, the price is equivalent to about RM2.48/liter. This should work for any currency and volume, ex 7,434 Rupiah/liter. Haven’t tried out kolah and ‘tin minyak tanah’ yet.
  3. Compare to the Malaysian gas price of RM2.30/liter.

I guess someone will create a Java / AJAX script to link all this up, and alow me to make it an applet on my page?

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Petrol Prices Drop in Malaysia

October 16, 2008

Taken from the pages of Bernama:

Petrol Price Down 15 Sen A Litre Wednesday, Says Abdullah

KUALA LUMPUR, Oct 14 (Bernama) — The RON97 petrol price has been lowered by 15 sen to RM2.30 a litre, RON92 less 10 sen to RM2.20 and diesel sheds 20 sen to RM2.20 from tomorrow, announced Datuk Seri Abdullah Ahmad Badawi.

The downward revision followed marked drop in world oil prices of late, the prime minister said in a statement Tuesday.

Crude oil prices have dwindled from a record high of US$147 per barrel in July to US$82 currently.

Abdullah said the government decided to expedite reduction of petrol and diesel retail prices to enable the people to enjoy lower fuel prices immediately.

This is the third time the government had lowered petrol and diesel prices, with the earlier adjustment being on Aug 23 and Sept 24.

The government had on June 4 announced petrol price hike by 78 sen, up 41 percent, to RM2.70 from RM1.92 a litre following spiralling world crude oil prices

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Malaysia – Cost of Natural Gas Price Increase

June 10, 2008

What’s been obvious to consumers in Malaysia is the ‘release’ of petrol (bahan bakar motor as they say in Indonesia), causing the pump cost to rise to RM2.70/l from RM1.92/l.

What I haven’t seen so much of is comments on the rise of gas prices. Here’s a summary:

  • Power producers – RM14.31/MMBTU from RM6.40/MMBTU (120% increase)
  • Industrial users, low consumers – RM24.54 from 9.40 (160%)
  • Industrial users, high consumers – RM32.56 from 11.32 (190%)

Natural gas is used as a raw material for many modern products. So, we can be sure that all chemical industries will hit the rakyat with a price increase which is independent for rising fuel costs.

I wonder how this will effect the Kawasan Industri Petroliam PETRONAS (KIPP) out there in Kerteh? Most of the plants there depend on gas feedstock, for example Petlin, Optimal,  Ethylene Malaysia, and the various companies listed below (I would link to the PETRONAS page, but it’s one of those funky frame pages). I guess a round of repricing, efficiency, retreating to core businesses, and mergers is in order.

 

Plant: Ethylene
Capacity: 400,000 TPA
Company: Ethylene Malaysia Sdn Bhd
Partners: PETRONAS, Idemitsu Petrochemicals Co Ltd, BP Chemicals
Onstream: September 1995
.
Plant: Polyethylene
Capacity: 200,000 TPA HDPE/LLDPE, 50,000 TPA Pipe compounding
Company: Polyethylene Malaysia Sdn Bhd
Partners: PETRONAS, BP Chemicals
Onstream: May 1995
.
Plant: Vinyl Chloride Monomer
Capacity: 400,000 TPA
Company: Vinyl Chloride (M) Sdn Bhd
Partners: PETRONAS
Onstream: November 2000
.
Plant: Polyvinyl Chloride (PVC)
Capacity: 150,000 TPA
Company: Vinyl Chloride (M) Sdn Bhd
Partners: PETRONAS
Onstream: September 2000
.
Plant: Ammonia / Syngas
Capacity: 450,000 TPA Ammonia, 325,000 TPA Syngas
Company: PETRONAS Ammonia Sdn Bhd
Partners: PETRONAS
Onstream: December 2000
.
Plant: Acetid Acid
Capacity: 400,000 TPA
Company: BP PETRONAS Acetyls Sdn Bhd
Partners: BP Amoco, PETRONAS
Onstream: November 2000
.
Plant: Aromatics
Capacity: 420,000 TPA Paraxylene, 145,000 TPA Benzene
Company: Aromatics Malaysia Sdn Bhd
Partners: PETRONAS, MJPX Co Ltd
Onstream: July 2000
.
Plant: Olefins (Second Cracker )
Capacity: 600,000 TPA Ethylene, 95,000 TPA Propylene
Company: Optimal Olefins (M) Sdn Bhd
Partners: PETRONAS, The Dow Chemical Company, Sasol Polymers Investments (Pty) Ltd
Onstream: January 2002
.
Plant: Ethylene Oxide, Ethylene Glycol
Capacity: 140,000 TPA Ethylene Oxide, 385,000 TPA Ethylene Glycols
Company: Optimal Glycols (M) Sdn Bhd
Partners: PETRONAS, The Dow Chemical Company
Onstream: February 2002
.
Plant: Ethylene Derivatives
Capacity: 30,000 TPA Ethoxylates, 75,000 TPA Ethanolamines, 60,000 TPA Glycol Ethers,140,000 TPA Butanol, 50,000 Butyl Acetate
Company: Optimal Chemicals (M) Sdn Bhd
Partners: PETRONAS, The Dow Chemical Company
Onstream: April 2002
.
Plant: Low Density Polyethylene
Capacity: 255,000 TPA LDPE
Company: Petlin (M) Sdn Bhd
Partners: PETRONAS, Sasol Polymers of South Africa, Sabic Polyethylenes B.V.
Onstream: February 2002
.

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