How much will petrol price reduce by tonight?

It's the end of the month, 31st October, and sure everyone out there is eagerly awaiting for the announcement of petrol price reduction.

As we know crude oil price has been sliding down for the last 2 weeks until below the level of USD65 per barrel. So we are all expecting a much lowered petrol price to be announce comes 31st October. Unfortunately still no news of petrol price reduction just yet! We don't mind waiting for another day!

Since government announced our petrol price will fluctuate according to market price, minus 30 cents subsidy. But how much actually the so call market price is? We've seen the crude oil price reduced from the heighest USD 145 per barrel to now under USD70 per barrel. Does this mean we would be expecting a petrol price of somewhere around RM1.35 per litre?

No! We are still hoping for petrol price somewhere around RM2 per litre, which is again I would like to stress, that government is using this trade as a money printing machine. How can an oil producing country's petrol price stands at its level now? If not mistaken, UAE's petrol price is the 2nd highest amongst all oil producing countries, which stands at its heighest of RM1.35 per litre. That means the government is sucking money our from its own citizens.

With crude oil price back up to above USD 70 per barrel, I'm sure this white hair man Shahril Samad will say tomorrow afternoon that "Due to the increase of fuel price, we regrettably informing you all that we can only reduce fuel price by 5 cents or 10 cents per litre only"