Oil has recently been very much in the news, not only in Malaysia, but throughout the world.
After the Dewan Rakyat adjourned on Dec. 21 for the Christmas and New Year recess, the Minister for Primary Industries announced the same night government approval for price increases for petrol, diesel and fuel oil. Premium grade petrol went up by 34 cents a gallon, regular petrol 24 cents a gallon; gas oil and diesel 11 cents a gallon, and fuel oil 5 cents a gallon.
These are pretty hefty increases, and set in motion a new round of increases in transportation and haulage costs and price rises in a whole range of goods, the end of which we have not seen yet. Continue reading On a National Oil Policy