Petrol pice

PETALING JAYA: Instead of completely removing subsidies for petrol, the government should gradually raise the price of RON95 petrol by 10 sen or 20 sen, says Datuk Seri Najib Razak. He said with many countries experiencing high inflation, it was not a suitable time to completely remove petrol subsidies. "However, the government can consider raising RON95 petrol by 10 sen or 20 sen. "But, don't touch on diesel prices when inflation rates are high now, because it correlates with the production and transportation costs which will eventually put more pressure on the inflation rate," said the former prime minister on Facebook on Wednesday (June 22). Najib also said the government should raise export duties and windfall taxes for the palm oil sector, given the high crude oil prices due to shortage in global supply. He said additional revenues from the proposals could be channelled every three months to various cash aid programmes to assist the B40 and M40 who were badly affected by … [Read more...] about Don’t totally remove fuel subsidies, but raise RON95 price gradually, says Najib

Datuk Seri Ahmad Husni Hanadzlah (Photo by Shahrin Yahya/The Edge) - A + A KUALA LUMPUR (June 23): Former finance minister II Datuk Seri Ahmad Husni Hanadzlah has said that former 1Malaysia Development Bhd (1MDB) chief executive officer Datuk Shahrol Azral Ibrahim Halmi was taking instructions from former prime minster Datuk Seri Najib Razak regarding 1MDB, which caused the company to lose US$700 million through a sham investment. Husni — the 20th prosecution witness of the 1MDB-Tanore trial in which Najib is accused of misappropriating more than RM2 billion of 1MDB funds — was under re-examination from lead prosecutor Datuk Seri Gopal Sri Ram, who asked him about Shahrol and Najib. On Wednesday, Najib's lawyer Tan Sri Muhammad Shafee Abdullah painted a picture to Husni of Shahrol being a criminal and cited former 1MDB chairman Tan Sri Mohd Bakke Salleh's testimony in court, who also called Shahrol a criminal. Husni defended Shahrol, saying that Shahrol was … [Read more...] about Husni: Najib’s instructions to Shahrol caused 1MDB to lose US$700 mil

- A + A KUALA LUMPUR (June 24): Malaysia's inflation, as measured by the consumer price index (CPI), increased 2.8% in May 2022 from a year earlier, led by food's price rise of 5.2%, according to the Department of Statistics Malaysia (DOSM) on Friday (June 24). The country's CPI rise accelerated to 2.8% in May 2022 from the 2.3% year-on-year increase in April 2022. "Food inflation continued to rise to a new high of 5.2%, the highest since November 2011 with 93% of items in this group recording increases," DOSM chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement. "Meanwhile, other groups except communications also recorded increases and led to higher headline inflation of 2.8%. Transport increased 3.9%, followed by restaurants & hotels (3.7%); furnishings, household equipment & routine household maintenance (2.9%); miscellaneous goods & services (1.9%); and recreation services & culture (1.8%). "Meanwhile, housing, water, … [Read more...] about Costlier food accelerates Malaysia’s inflation to 2.8% in May 2022 — DOSM

Share to Twitter Share to Linkedin Towards the end of 2020, a very controversial report was circulating in the UK and receiving wide coverage in newspapers (albeit mostly the right-leaning ones). It became known as #AstonGate, referring to the main company behind the report (which had tried to hide its involvement). The resulting backlash didn’t reflect well on those involved, but it did signal something positive. We can’t just consider tailpipe emissions, and we can’t just consider the fuel source emissions of a vehicle either. We must also take the environmental impact of production into account – and vehicle disposal / recycling at end of life. Only then can we truly know which kind of car is greener. EVs produce more carbon during their production, mostly due to the battery. But accurately calculating lifetime emissions is hard, because there are so many variables to balance. Many attempts fail. In the last month or so, a TEDx talk published on YouTube … [Read more...] about We Need To Measure Total Lifecycle Emissions For Cars – But EVs Still Win

- A + A PARIS (June 24): TotalEnergies has taken logistics measures to make sure its network of petrol stations and its clients will be sufficiently supplied throughout the weekend despite a strike hitting its French oil refineries on Friday, a spokesman said. The CGT union, which wants an immediate increase in wages to compensate for rising inflation, has called for the 24-hour strike after talks with chief executive officer Patrick Pouyanne fell through. The CGT plans to halt deliveries by truck, train, and pipeline, with only minimum flow for production units at three of TotalEnergies' refineries and two depots. The refineries set to be affected are the 240,000-barrel-per-day (bpd) Gonfreville refinery, the 119,000-bpd Feyzin refinery, and La Mede biorefinery. Fuel storage depots at La Mede and Flanders may also be impacted, the CGT said. Details on the extent of Friday's walkout were not immediately available. … [Read more...] about TotalEnergies says it is prepared for strike at French refineries

Tengku Zafrul: The MoF will continue to monitor external factors that can have a negative impact on the domestic economic situation to ensure that the cost of living of the people is under control. (Photo by Zahid Izzani Mohd Said/The Edge) - A + A KUALA LUMPUR (June 25): The projected consumption subsidy expenditure of RM77.3 billion so far for 2022 is the highest subsidy in history ever borne by any government, said the Ministry of Finance (MoF). Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the projected consumption subsidies cover petrol, diesel and liquefied petroleum gas (RM37.3 billion), cooking oil (RM4 billion), flour and electricity to reduce the people's cost of living, and subsidy bills (RM9.7 billion), excluding welfare assistance from 2018 to 2022. “When added to other assistance such as social welfare assistance, including Bantuan Keluarga Malaysia (BKM) (RM11.7 billion) and other subsidies (RM14.6 billion), the total subsidy so … [Read more...] about RM77b subsidy so far this year highest in history, says Zafrul

PETALING JAYA: The Government is doing its best to tackle the uncertainties brought about by several issues affecting the world and will strive to reduce the economic burden on the people, says Datuk Seri Dr Wee Ka Siong (pic). "The world situation is not so stable now not only because of Covid-19, but also due to the Russia-Ukraine war and other major factors affecting the world. "The sharp rise in inflation is a major challenge facing the world, including Malaysia," said the Transport Minister. Malaysia, he said, was also facing the issue of inflation in food, which is influenced by the rising global food prices which are mostly the main input to local food products. "The Malaysian Family Government is doing its best to address this issue, including providing a subsidy of RM77.3bil for petrol, cooking oil, food and several critical sectors to lessen the burden of the people," he said. Dr Wee, who is also MCA president, delivered his speech at the Federation of Hakka … [Read more...] about Dr Wee: Government doing its best to tackle global uncertainties

KUALA NERANG: A proposal for ministers to take a pay and allowance cut is not the solution that will help the people deal with the rising cost of living now, said Rural Development Minister Datuk Seri Mahdzir Khalid (pic) . Instead, he said the situation should be addressed with more effective methods including those announced by Prime Minister Datuk Seri Ismail Sabri Yaakob regarding electricity tariffs and chicken prices. "The Prime Minister and his team in the Cabinet have put in a lot of effort, especially ministers who are directly involved with the economy and the prices of goods like the Finance Ministry and those related to the economy, commerce, agriculture and public works. "They meet twice weekly to discuss ways and find solutions like the one the Prime Minister announced yesterday (June 24) on the no increase in electricity tariffs and the decision not to float the market price of chicken,” he said to reporters after officiating the Sekolah Kebangsaan Tualak … [Read more...] about Cabinet pay cut will not solve rising cost of living issue, says Mahdzir

COLOMBO, June 25 (Xinhua) -- Sri Lanka will not receive shipments of petrol, diesel and crude oil, scheduled for this week and next week, Minister of Power and Energy Kanchana Wijesekera said on Saturday. The minister said that suppliers have informed state-owned fuel importer and distributor Ceylon Petroleum Corporation (CPC) that they will not make the scheduled deliveries due to banking and logistic reasons. Wijesekera said public transportation, power generation and industries would be given priority until the next shipments arrive. Therefore, limited stocks of diesel and petrol will be distributed to a few gas stations throughout next week. The minister urged the general public not to queue up for fuel. He also said that refinery operations will also be halted until the next crude shipment arrives. "We are working with all new and existing suppliers. I apologize for the delay and inconvenience," he said. … [Read more...] about Sri Lanka to limit fuel for private vehicles as fuel suppliers delay shipments

Tengku Datuk Seri Zafrul Abdul Aziz (Photo by Suhaimi Yusuf/The Edge) - A + A KUALA LUMPUR (June 26): The total amount of subsidies is expected to reach nearly RM80 billion this year, which is the largest amount in history, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has said. In the 100th People's Financial Report released on Sunday, he said in order to reduce inflationary pressure on the people, the government has provided various consumption subsidies consisting of petrol, diesel, liquefied petroleum gas, cooking oil, flour, and electricity. "Overall, the projected consumption subsidies expenditure for 2022 is the highest amount of subsidies in history ever borne by any government. "When added with other assistance such as social welfare assistance, agricultural assistance, fishermen, and so on, the total subsidies are expected to be close to RM80 billion for 2022, which is the largest amount of subsidies in history," he said. However, he said … [Read more...] about Zafrul: Total subsidies in 2022 expected to reach nearly RM80 bil, highest in history