Saturday, January 06, 2007

Not hike but lower oil price

Finance Minister II Tan Sri Mor Mahamad Yakcop answered wrongly on whether there will be another round of petrol hike this year.

Global oil price has slumped to USD55 per barrel yesterday and the government has been avoiding one core question of whether the government is prepared to lower oil price since global price has been dropping since October 2006.

The question is certainly not on whether there will be another hike but whether the oil price can be further lowered according to global oil price.

Nor Mohamad and the Government is certainly not answering our question.



NEWS


Nation
Saturday January 6, 2007

There’s no increase in petrol price

PETALING JAYA: There will be no increase in petrol price, Finance Minister II Tan Sri Nor Mohamad Yakcop said yesterday.

He said this in dismissing rumours that the Government would increase petrol price with the recent reduction in road tax.

“Is the petrol price going up? The answer is no,” he told reporters after launching the Lexus 3S centre here.

He, however, did not say if oil prices would remain unchanged throughout the year.
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