Bad News: Oil Prices could hit US$100 in 2024?
Double whammy if this really does happen
Currently, our RON95 is RM2.05 per litre. Within this year, it is expected that the subsidy for RON95 will be taken away and we could be looking at paying prices which are very much higher than what we are paying today. Do you want to know what are the typical prices? Here’s one very comprehensive article for your reference yeah: “Why people love to buy petrol in Malaysia if they could?” So, if the subsidy is taken away and then the below news are to happen:
JP Morgan’s prediction on oil prices and they explained why…
If USD weakens, the oil prices may also gain…
When the market is showing an increasing demand…
Before all of us start to worry, do note that oil prices were also predicted to drop
JP Morgan’s competitor says oil price will fall…
Earn more. Change car later. Take public transport
#1 – Looking at just the number itself, if our petrol expenses is RM300 today, maybe it could double in the future. Thus, that change is RM300 per month. Could we think of ways to earn more in order to cover this RM300 extra expenses? Think a little more and take actions.
#2 – If we were thinking of buying a new car and our current car has been fully paid, I think delaying this is fine. Without a new car, we are easily saving RM500 per month for an affordable model or RM1,000 for that Japanese branded segment B car. (not worth it lah…)
#3 – Best would be walk a bit more. Take the MRT and this will save us a lot of money! This last option is not for me but I think I will be doing #2. Was thinking of buying a new car this year but I think current car can easily drive another year. So, we will see 12 months later.
Happy reading and as usual, I share both the bad and the good news. Decide which you like to believe.
Please share with people you care.
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