The crude oil price in New York fell to a four-year low at below US$44 per barrel yesterday, dragged down by demand worries amid the worsening outlook of the global economy.
At this level, the market price for RON 97 grade petrol should be about RM1.30 per litre, which is 60 sen lower than the RM1.90 per litre Malaysians are currently paying, the analysts said.
Based on a consumption estimate of 27.5 million litres per day, this translates to roughly around RM16.5mil in extra revenue a day for the Government.
Now, the feds are sucking every 60 sen per litre from consumers. Pay back time? Who is profiting all along? "Head I win, Tail you lose" fits in.