Interesting news

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Short talk:

Something very strange happened yesterday night...
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Yesterday night, i planned to go JB...

Yesterday evening i saw this...

Malaysia raises petrol prices by 40%
Posted: 04 June 2008 1723 hrs
http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/351883/1/.html

KUALA LUMPUR - Malaysia has said petrol prices will jump 40 percent from Thursday, as it moves to cut the spiralling cost of subsidies despite the prospect of public outrage.

The new pump price for petrol will be 2.70 ringgit (0.84 dollars) and 2.58 ringgit for diesel.

I did not go to JB yesterday night.

Today i saw this...

Malaysian opposition plans protests against fuel price hike
Posted: 05 June 2008 1015 hrs
http://www.channelnewsasia.com/stories/afp_asiapacific/view/352032/1/.html

KUALA LUMPUR - Malaysia's government faced demonstrations and public outrage Thursday over its decision to hike petrol prices 40 percent overnight, in a bid to curb its massive subsidies bill.


Why am i not surprise? But to me, it's reasonable for this hike, even thought it's kinda too sudden, and the the percentage is too great... All these times, when the prices of crude set record highs time and time again, when Singapore pump prices increase and increase, Malaysia's pump prices remains the same.

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Yesterday, i saw this...


Bernanke's comments put a dent in oil prices
Posted: 04 June 2008 0642 hrs
http://www.channelnewsasia.com/stories/afp_world_business/view/351787/1/.html

NEW YORK: Oil prices fell sharply on Tuesday as the dollar jumped higher on foreign exchange markets in the wake of comments from US Federal Reserve chairman Ben Bernanke.

New York's main oil futures contract, light sweet crude for July delivery, closed down a heavy 3.45 dollars at 124.31 dollars a barrel.

In London, Brent North Sea crude for July delivery settled down 3.44 dollars at 124.58 dollars.

Oil prices have now lost around 11 dollars since striking record peaks of 135.14 dollars in London and 135.09 dollars in New York on May 22.


And today, i saw this....


Oil prices continue to slide
Posted: 05 June 2008 0409 hrs
http://www.channelnewsasia.com/stories/afp_world_business/view/351996/1/.html

NEW YORK: Oil prices fell on Wednesday, extending recent heavy losses on the back of a stronger dollar and as investors reacted to rising motor fuel inventories in the United States.

New York's main oil futures contract, light sweet crude for July delivery, shed 2.01 dollars to close at 122.30 dollars a barrel.

In London, Brent North Sea crude for July delivery lost 2.48 dollars to 122.10 dollars.

Oil prices have now lost about 13 dollars since striking record peaks of 135.14 dollars in London and 135.09 dollars in New York on May 22.


Hope it continues the downward trend... But then, when will the petrol prices at the pump drop if the crude prices drops?