Last week, petrol price went up and the rakyat became angry.
They complained on social media and blame the government.
But does the rakyat know, that overall since the weekly floating mechanism was introduced in March 2017, petrol price is now is 10 sen cheaper?
Lets take a look.
Rakyat must look at the big picture
The government introduced the weekly managed float system in March 2017.
Since that time. the petrol price has gone up many times.
And during that period, petrol price also went down many, many times.
So the rakyat must look at the big picture.
The rakyat must look at the price trend of petrol between March and September 2017.
The rakyat must also look at how many times petrol prices went down during the same period.
Don’t just look at last week when the petrol price went up.
Also take a look at how many times petrol prices went down.
Petrol price is now 10 sen cheaper compared in March
If the rakyat study the petrol price in March 2017.
And compare it with petrol price in September.
They can see that the RON 95 petrol price has actually gone down by 10 sen.
So the rakyat must look at the bigger picture.
Don’t only look at the weekly price increase.
The rakyat must also look and study at the monthly trend.
So the rakyat must check first before jumping to conclusions.
Petrol price has gone down a cumulative 51 sen since March 2017
If the rakyat compare over a longer period, petrol price has gone down a lot more compared to going up.
Since March 2017, petrol price has gone down by a cumulative 62 sen.
During that same period, petrol price has also gone up by a cumulative 52 sen.
So the difference between 62 sen and 52 sen is 10 sen.
What it means is that for the past seven months, petrol prices have gone down 10 sen.
So the rakyat is enjoying petrol price which is 10 sen cheaper and they should not believe what other people say in social media.
Petrol price movement is small and gradual, so rakyat has to monitor the price movement
Under the weekly managed float system, the price increase and decrease will be gradual.
The increase and decrease is also small at a few sens.
So the rakyat would not notice it that much.
To really know the movement of the petrol price, the rakyat must monitor it themselves.
This is because it would be easier for the rakyat to notice a 20 sen change compared to a 2 sen increase.
So to really know the price increase, the rakyat have to look and study the price movement before blaming the government.
In Australia and the UK, petrol price change everyday
The weekly managed float system in Malaysia is only done once a week.
In Australia and the UK, retail prices at petrol stations change everyday.
If Malaysia were to increase or decrease petrol prices everyday.
The rakyat would not have time to blame the government.
Because if the rakyat blame the government for the petrol price increase today.
Petrol prices might go down tomorrow.
So the rakyat should refrain from blaming the government too quickly.
Oil prices is controlled by the world market, not the government
Some rakyat still don’t understand that petrol price is not controlled by the government.
Oil prices per barrel is dictated by world market supply and demand.
When demand is high, petrol prices will go up and vice versa.
So the rakyat must not blame the government when oil prices go up.
This is because petrol prices are controlled by consumers all around the world.
Malaysia’s petrol price still among the cheapest
According to Global Petrol Prices, Malaysia’s petrol price is still cheap compared with other countries.
Out of 170 countries, Malaysia’s petrol is 16th cheapest and well below the global average price of US$1.03 or around RM4.20 per litre.
Compared with neighbouring countries, Malaysia’s petrol prices are also among the cheapest.
So the rakyat should be grateful because petrol price in Malaysia is still cheap compared to other countries in the world.