Effective starting on 05 June 2008, fuel price control will be removed and petrol price raised to RM2.70 per litre. A 40.6 percent jump from RM1.92 per litre to RM2.70. Ouch, what a shame. And the worse part is that price could reach 3 to 4 RM per litre in August, said Domestic Trade Minister Shahrir Samad.
Fuel price is just the beginning, food, daily goods and especially gas & electricity will increase as well due to the increased expanses.
the fuel price is still being controlled albeit at a lower subsidised rate now. if the subsidy has been totally removed, it would hit RM4.00 per litre and not RM2.70 as announced