We have been cheated by our Government!!!

Before anyone says that i'm talking bullshit, read on. I wont blatantly accuse the government without evidence. It is all in black and white, its up to u to believe it or not. I have done comparison in oil prices between Malaysia and USA. The outcome, you'll never believe it. One who uses petrol will still think that the Malaysian government is still subsidising our petrol. In fact, they are not!!! This is why....

This is the calculations for CRUDE oil:
*Figures calculated based on 22 Jan 07 price list

Malaysian fuel pump price: RM 1.92/litre

Nymex Crude: US$58.32/barrel = RM1.357/litre
(1 barrel = 158.9873 litres)

Nymex RBOB Gasoline Future: US$1.5489/gallon = RM1.26/litre
(1 gallon = 4.5461 litres)

So how much more are we paying per litre than we should be? Probably around RM0.50 more per litre. This calculation isn't 100% correct, as its still raw material without the filteration and steps need to be taken before it turns into fuel sold at station. Exp: management, transportation, bayar gaji, and duit kopi. Just kidding btw..

This is the calculations for gasoline(petrol):
*Figures calculated based on 22 Jan 07 price list

As at today, USD to RM exchange at RM3.535 to 1 USD.

The cheapest petrol in USA Toledo at USD1.825 per US gallon.

1 US gallon equals to 3.7854 liter. So... the price is RM1.704 per liter.

US is net oil importer and their price is 22 sen per liter cheaper than Malaysia. This calculation is for Octane-85 (RON-92 equivalent). As for Octane-91 (RON 97 equivalent) is USD$2.07 (RM1.93 only). Price in the USA is the same as Malaysia. Ironically, Malaysia produces oil with Petronas backing them up. On the other hand, USA is a NET importer for oil. It really contradicts the current situation. Think about it.

Malaysia used to subsidies the petrol, but not anymore. We can deduce this from my calculation above. Oil Prices Fall Below $50 Per Barrel. When will the government revise the fuel price after subsidy?

1 barrel of oil does not mean 1 barrel of 100% petrol that u pump into cars. It's actually crude oil and you have to go through some process to extract the content we need from it. See below for clearer view:

Newspaper bullshit time!! This is taken from The Star dated 31 Jan 07:-

"PUTRAJAYA: The Government does not plan to lower petrol prices just yet.

According to Deputy Prime Minister Datuk Seri Najib Tun Razak, the Government needed to monitor the world oil prices for at least one year(WTF?!?!) before making any decision.

“We will review the oil price, but a review does not automatically mean that we will reduce the price. That decision will be for the Cabinet to make,” he told reporters after chairing the National Mineral Council meeting here yesterday. "

Do you maths, and its ALL BULLSHIT!!! Conclusion, we have been cheated by our Government!!!