Aw, crap. Fuel prices are up again, by 10 sen to RM1.62 for unleaded petrol. Usual media spin today: still one of the cheapest in the region, unscrupulous businesses shouldn't take advantage of this to hike their prices, etc, etc, etc.
The fuel price hike had seemed inevitable and the warning signs had been there with top Government officials stating publicly in recent weeks that subsidies were taking away much needed funds for development of schools and rural infrastructure.Crude oil prices have jumped from US$50 (RM190) to US$60.57 per barrel in seven months.
Government ministers had warned that it was a matter of time before subsidies were further reduced to ensure that it did not hinder the overall economic development of the country.
Sheesh. A couple fewer Happy Meals a month for me from now on.
