My House My Rules: Oil Price Soaring Up

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Thursday, June 5, 2008

Oil Price Soaring Up

Oil Price went up by 78 cents ? I bet its not going to stop and the price will continue to sky rocket.Will there be riots? revolts? chaos? We got our own oil sources and yet we paying a lot more then those countries with oil.

They said ours are still cheaper then other countries. Are we ? I dont think so as they are comparing to those countries with no oil sources. The Fact to the factors behind the increase of the oil price are not supply and demand, but rather psychological factors existing in the market .

The problem is that the oil market is not a federally owned commodity, it is an open world market. We should stand our grounds and put oil supplys out for tender, then the price would go down as suppliers bid for our business.

Prices effective today (per litre)

Petrol – RM2.70 (previously RM1.92)
Diesel – RM2.58 (previously RM1.58)

Bullshit.. Try comparing prices with those countries with OIL sources

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