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Oil Price Drop Below $100, At 6 Month Low

Due to Lehman Brothers Holdings declare bankruptcy causing the upheaval on Wall Street and less damage from the hurrican lke to the oil and gas infrastructure. The oil price pullback accelerated and went down to less than $100 per barrel.

The global oil price drop significantly from records high $147 per barrel drop until less than $100 per barrel? But why are we still paying RM2.55 per litre?

Malaysia government has promised their people’s they will reduce the price when the global oil price dropped and maintain around $120 – $130 per barrel. Now, the price has dropped even more than expected, so we definitely should enjoy cheaper oil price.

Hope they will keep their promise and revise the price soon.

Source: http://www.forbes.com/topstories/feeds/ap/2008/09/15/ap5427103.html