Three years ago the selling price of crude was about USD30 per barrel. There is hardly any increase in the production cost so that the extra USD100 can be considered as pure profit.
Our 250,000 barrels of export should earn us 250,000 x 100 x 365 x 3 = RM27,375,000,000 (twenty seven billion Ringgit).
Roughly Malaysia produces 650,000 barrels of crude per day.
But what they are angry about is the quantum and the suddenness.But besides petrol the prices of palm oil, rubber and tin have also increased by about 400 per cent.