10c down for ron97. Ron97 supporters rejoice

Less uncertainties, since there is a gov in place at least.
Rather than just a hung parliament, no cabinet.

Still waiting for deputy ministers post announcement.

I think once all post GE15 dusts clears off, we will get better exchange rates. Unless US FED go nuts and USD go sky high again.

They should have directed those subsidies for a "good and healthy food" for school children nationwide.

It is more worth it as a long term policy, anyway, gov has their own smart asses to decide what's good for the nation.

At the point where Brent crude price just rise from its 200-day MA for the first time in almost a year and the smart alec in gov want to reduce ron95 by 10c. Rich folks are really partying with ron95 subsidies

I bet no price changes until a few weeks after 6 states PRN.
They can't avoid to play politics to garner support.

Blanket subsidies (not just petrol) are enjoyed by all foreigners in the country. Including tourists.
This is like banning plastic drinking straw and plastics bags as a "Green initiatives" but not dirty diesel engine vehicles.

One interesting facts which is not known by local Malaysian: China claims it imported 1.5m b/d of **Malaysian** oil last month. That's triple the real output of Malaysia.

So much money must have been made by a middleman who swap the oil.



SOS

This post has been edited by muhammadb: Aug 1 2023, 09:37 AM

As expected, no changes on ron95/97 price this week until Aug 16.