13/11: Be ready for fuel price hike, Malaysians told
Category: News
Posted by: raja petra
(Bernama) -- Malaysians must be prepared for the effects of the global trend of rising oil prices, Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal said today.
He said hardship caused by rising oil prices was faced by governments and political parties worldwide, including the United States, Japan and Europe.
"Some irresponsible people say oil prices should not be raised. No government or leader in the world can stop oil prices from rising, including President George Bush of the United States and British Prime Minister Gordon Brown," he told reporters at a Deeparaya goodwill gathering here.
To cushion fuel price increase, he said, the government wants the people to be smart consumers by buying only essential goods and cheaper items.
He said short supply of fuel in winter, growing demand from industries in China, India and Europe and wars have contributed to spiralling global oil prices.
Shafie said the trend of rising world oil prices would continue and is expected to hit US$100 per barrel by year-end.
He said findings of a study on the fuel subsidy and distribution, expected to be out in a few months, would consider the people's affordability and the government's capacity to absorb the RM40 billion subsidy bill.
Asked about talk that the government may raise oil prices by 30 to 50 sen next year, he said: "We will study and approach the matter differently.
"Please don't listen to rumours.
"If the global oil prices increases, the government plans to introduce a system that will not burden the people."
He said Malaysians should become smart consumers and not join a boycott campaign as it would stifle the national economy.
He said hardship caused by rising oil prices was faced by governments and political parties worldwide, including the United States, Japan and Europe.
"Some irresponsible people say oil prices should not be raised. No government or leader in the world can stop oil prices from rising, including President George Bush of the United States and British Prime Minister Gordon Brown," he told reporters at a Deeparaya goodwill gathering here.
To cushion fuel price increase, he said, the government wants the people to be smart consumers by buying only essential goods and cheaper items.
He said short supply of fuel in winter, growing demand from industries in China, India and Europe and wars have contributed to spiralling global oil prices.
Shafie said the trend of rising world oil prices would continue and is expected to hit US$100 per barrel by year-end.
He said findings of a study on the fuel subsidy and distribution, expected to be out in a few months, would consider the people's affordability and the government's capacity to absorb the RM40 billion subsidy bill.
Asked about talk that the government may raise oil prices by 30 to 50 sen next year, he said: "We will study and approach the matter differently.
"Please don't listen to rumours.
"If the global oil prices increases, the government plans to introduce a system that will not burden the people."
He said Malaysians should become smart consumers and not join a boycott campaign as it would stifle the national economy.