{"id":11124,"date":"2014-12-02T18:14:34","date_gmt":"2014-12-02T10:14:34","guid":{"rendered":"http:\/\/www.therocket.com.my\/en\/?p=11124"},"modified":"2014-12-02T18:14:34","modified_gmt":"2014-12-02T10:14:34","slug":"more-questions-arise-over-dirty-float-system-show-us-the-calculations","status":"publish","type":"post","link":"https:\/\/www.therocket.com.my\/en\/more-questions-arise-over-dirty-float-system-show-us-the-calculations\/","title":{"rendered":"More questions arise over “dirty float” system, show us the calculations"},"content":{"rendered":"

\"LCTcampaign\"<\/a>DAP dismissed the government\u2019s explanation on the diesel fuel hike, urging Domestic Trade, Cooperatives and Consumerism Minister Hasan Malek for the \u201cmysterious formula\u201d behind the managed float system.<\/p>\n

Hasan Malek had reasoned that the diesel price hike was due to a higher processing for diesel compared to RON 95 and RON 97 – which Kluang MP Liew Chin Tong says \u201che does not believe\u201d.<\/p>\n

\u201cShow us the formula.\u201d<\/p>\n

\u201cWe don\u2019t believe in this \u201cdirty float\u201d,\u201d said Liew, asking that the government exercise transparency and reveal the way the new prices for fuel are achieved.<\/p>\n

It was reported today that the reason the price of diesel went up while RON 95 and RON 97 had gone down was that the processing cost for diesel was higher. Hasan also said that the price increase was to offset previous subsidies imposed on diesel.<\/p>\n

Liew believes that this amounted to tax, for previously spent subsidies on fuel.<\/p>\n

Price of RON 95 should be much lower compared to RON 97<\/strong><\/p>\n

Seputeh MP echoed a similar concern derived from the small difference in price between RON 95 and RON 97.<\/p>\n

\u201cWhy is there only a difference of 20 sen between the two petrol types if there is no sales tax imposed on RON 95?\u201d<\/p>\n

\u201cOr has the past tax exemption been taken into consideration?\u201d<\/p>\n

Teresa Kok said that the government had on numerous occasions said that no sales tax was imposed on consumers for RON 95. However, the sales tax of 58 sen is imposed on RON 97.<\/p>\n

\"teresa-kok-medical-students\"<\/a>According to Teresa Kok, the sales tax, added to the presumed higher cost of processing RON 97, should amount to RON 95 being more than just 20 sen cheaper than RON 97<\/p>\n

\u201cIs Hasan going to say that it is cheaper to produce RON 97, the premium grade?\u201d<\/p>\n

\u201cSo much cheaper that even with the imposition of 58 sen sales tax, it should only differ by 20 sen from the RON 95 price?\u201d she questioned.<\/p>\n

She also found it \u201cshocking\u201d that Hasan Malek\u2019s explanation that 3 sen increase in diesel price was due to large amounts of subsidy given out by the government before.<\/p>\n

\u201cHis answer was shocking to Malaysians who have thought that only market forces will determine the new prices under the new managed float system.\u201d<\/p>\n

She asked also if the managed float system was used as a tool to recoup past subsidies incurred by the government.<\/p>\n

\"rafizi<\/a>Global crude oil price plunge does not show in Malaysian consumer price<\/strong><\/p>\n

Weighing in on the doubt in the managed float system, Pandan MP Rafizi Ramli believes that that small drop in fuel prices was to ensure oil companies earn up to 30 sen for every litre of RON 95 petrol sold.<\/p>\n

Added to that, he too,\u00a0asked Putrajaya to make public the formulas and figures behind the managed float system that the government had imposed on fuel after the elimination of subsidies following the steady plunging of fuel prices.<\/p>\n

Rafizi said that though Brent crude oil prices have reduced by 35.2 percent last week and the average price of crude oil in November 2014 dropped by 27.6 percent, consumer fuel prices here did not reflect the aforementioned global changes in price.<\/p>\n

\u201cBarisan Nasional only decreased the prices of RON95 by 1.7%, RON97 by 3.5%, and increased the price of diesel by 1%,\u201d said Rafizi.<\/p>\n

In their push for transparency, the PKR and DAP have urged the government to release all the details behind the calculations in the managed float system for fuel to enlighten the public on the unseen costs that result in the final fuel prices that consumers pay for. \u2013The Rocket<\/p>\n","protected":false},"excerpt":{"rendered":"

DAP dismissed the government\u2019s explanation on the diesel fuel hike, urging Domestic Trade, Cooperatives and Consumerism Minister Hasan Malek for the \u201cmysterious formula\u201d behind the managed float system. Hasan Malek had reasoned that the diesel price hike was due to a higher processing for diesel compared to RON 95 and RON 97 – which Kluang […]<\/p>\n","protected":false},"author":1,"featured_media":11125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[274],"tags":[],"class_list":["post-11124","post","type-post","status-publish","format-standard","hentry","category-national"],"_links":{"self":[{"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/posts\/11124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/comments?post=11124"}],"version-history":[{"count":3,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/posts\/11124\/revisions"}],"predecessor-version":[{"id":11130,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/posts\/11124\/revisions\/11130"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/media\/11125"}],"wp:attachment":[{"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/media?parent=11124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/categories?post=11124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/tags?post=11124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}