"A bi-monthly adjustment scheme should be adopted as the world fuel price fluctuates rather quickly and substantially," Koh said.
A more frequent adjustment, he added, will enable the benefits of price reduction to be transmitted to and benefit all consumers.
"For example, the current crude oil price has gone down to US$115 (RM383.20) per barrel which is the lowest in the last three months.
"It is almost US$25 below the peak of US$139 per barrel on June 8, 2008. This is also US$10 below the world price of US$125 when the government announced the increase in fuel price on June 5, 2008," said the former Penang chief minister.
However, he warned that despite the price fluctuations, the government should keep its promise and ensure that petrol prices are no higher than RM2.70 per litre for the rest of the year.
The government had announced on Aug 2 that fuel prices would be reviewed once a month beginning Sept 1, based on the average global market price and after taking into consideration the fixed subsidy of RM0.30 per litre.During the announcement, PM Abdullah Ahmad Badawi promised that petrol prices this year would not exceed RM2.70 per litre.
source : malaysiakini
----------------------Not to worry Dr.Koh, thats BN trump card for the Permatang Pauh by-election. Since Anwar had promised he will lower fuel price by 50 cents,Pat Lah is gonna do it now, yes, lowering it by 50 cents just before the Permatang Pauh by-election. Will they.........
If Pat Lah thinks by lowering of fuel price will entice the voters of Permatang Pauh to vote BN, he will be in for a suprise.
BN, also will throw money around and promise to bring developments just like what they did in Ijok. I am sure the voters of Permatang Pauh are matured enough not to fall to these political ploys. Btw, just accept whatever BN can offer,your vote is sulit.........
The game has just begun and lets wait and see what gonna happen come 16th August 2008 and beyond....