2008 Feb 29

I always hear Najib said Petrol Turun Masia bankrupt then

Anwar said Msia produces Petrol, can lower price no problem ....

I asked but no one in this forum can provide some facts so I dig it out myself ....

in 2007 total Petrol related export is 80 billions,there is no petrol specific import data but petrol can only fall into one category which is consumption goods, which has a total of 29 billion import in 2007.so even if we assume 100% of consumption goods import is only Petroleum, there is still a net profit of 50 billions.These are all the proper statistic data from export-import deparment ....anyone else has any data that I haven't considered yet, please post it up .....

I am still digging many sources to further confirm this truth ....

so YES ! we could have FREE Petroleum.

2008 March 1

1 barrel = 159 litter
assumes 1 barrel = USD 100
then 1 litter of crude oil is RM 2
refining cost is RM 0.40
tax is RM 0.40
distribution and marketing is RM 0.20
so fuel price is RM 3.00

However, Malaysia DO NOT buy crude oil at USD 100/barrel. So we should use COST instead of SALE price.It is harder to determine what is the COST of Crude Oil, however, Petronas profit to revenue ratio is about 50% in 2007. So it should be ok to assume COST per barrel is USD 50. In that case :

cost of crude oil = RM 1
refine cost = RM 0.20
tax = RM 0.20
distribution and marketing = RM 0.10

so Fuel Cost is RM 1.50

However, why do you pay tax for your own products ? so it should minus 0.20

finally fuel cost should be RM 1.30 / litter