Malaysia Petrol Hike - Time to ride a bicycle

It finally came true. The Malaysia government had been subsiding all the petrol in the country by about 50%. While it was still "affordable" for the government to do so in the past decade, it is no longer feasible.

Today's breaking news in Malaysia was all about the petrol prices. As our Prime Minister Abdullah Ahmad Badawi declared, pump prices of petrol will rise by about 41% (RM0.833) from RM1.92 to RM2.7 per liter and diesel will rise by about 67% (RM1.00) from RM1.50 to RM2.58.

Follow on the announcement, the locals responded with long queue at all petrol stations nation wide. This wasn't surprise, it did happened during the last revision at the beginning of the year.

2 months ago, similar queues were seen in Japan as well, but that was due to the tax bill being expired and it could get in time to reinstate. Japanese rush to the petrol kiosks to pump petrol at the before tax prices.

As of now, it seems that the petrol prices will continue to rise to the market price and fluctuate by August, that will mark the end of cheap petrol in Malaysia.

The government however, is giving out rebate for car owners when they renew their road tax. An annual cash rebate of RM625 for owners of cars with engine capacity of up to 2,000 cc and pick up trucks and jeeps of up to 2500 cc. Owners of private motorcycles of engine capacity of up to 250 cc will be paid a cash rebate of RM150 per year, according to the minister's announcement.
(And I think my dad's over 2,000 cc cars will only be entitled to a RM200 rebate annually)

I was joking to John though, that his parent's shop business will boom! Because his parent operate a motorcycle and bicycle shop. I do believe so, it is a good time for everyone to own a bicycle and cycle in replacement of petrol-fueled car.

Well, my dad manage to fill all his cars' tanks except on that had run out of battery.

How about you?
How long did you queued and how much you've saved as compare to the price after the hike?

It would be interesting to see if you post your comments on, as so far I've heard of some giving up the long queue, some complaint about the government and some isn't much affected by it.