Many viewers of MediaRakyat might not have caught what Lau Tek Hai, the Master of Ceremony on the fund raising dinner of PKR in Machap Baru explained on his calculation of the petrol price (which is currently supposed to be). He made the calculation according to what the government has promised during the first petrol price change, which is going ACCORDING TO THE GLOBAL TREND each time  the price is changed.

After the lowering of the petrol price last week, the price of 1 litre of petrol as everybody knows is RM2.15. But if we went according to what they have promised, the price of the petrol could have been on a shocking low RM1.05! How did he get that figure? We have analyzed how he calculated and simplified it here on MediaRakyat.

The Formula is simple:

Price of 1 Barrel of crude oil in RM / 159 litre= Price of 1 liter of crude oil (without subsidiary)

*1 Barrel=159 litre

During that time

International crude oil price (1 barrel)= 140 USD

1 USD= RM3.42

Promised subsidiary= 30 sen

So

(140 x RM3.42) / 159 litre= RM3.00

RM3.00 - 0.30= RM2.70

That was how it was counted and also how it was promised to be counted later on.

Currently

International crude oil price (per barrel)= 60USD

1 USD= RM3.585

Promised subsidiary= 30 sen

So

(60 x RM3.585) / 159 litre= Rm1.35

RM 1.35 - RM0.30= RM1.05

Now how is it reasonable that they only lowered 10 cents last week. Mr Lau Tek Hai asks you to think about it.

Formulation courtesy of Lau Tek Hai.