The Silver Lining On Petrol Hike?
Along with yesterday’s announcement on the fuel hikes, there was a side note on cash rebates for certain vehicle classes. Cars below 2000cc would be entitled to a RM625.00 cash rebate issued as a postal order during road tax renewal. Motorcycles below 250cc would be entitled to a RM150.00 rebate. Vehicles in the higher cc class will have their road tax slashed marginally.
The RM625.00 cash rebate will cover for about 800 litres of petrol. That’s the government’s way of softening the blow of the recent fuel hike. I suppose that’s not too bad as compensation. Finally, the old Tiara will come into play. Considering that the road tax for the old jalopy is RM45.00 and third party insurance is about RM400.00, I stand to make a good RM180.00 off of it. HAH! Perhaps it is time to maintain a few cheap second hand cars and scrape off the rebates? Right…
800 litres of petrol would tie me over for about 4 months. Assuming 2400 litres annualy @ RM2.70/litre minus the RM625.00 cash rebate, I’ll be spending RM5855.00 on fuel annually as compared to RM4608.00 at the previous cost of RM1.92/litre. That’s an increase in fuel budget of RM1247.00 annually or RM100.00/month. That’s not taking into account the various other inflations. Time to have that conversation with the boss about a pay adjustment. Annual increments ain’t cutting it anymore.
Edit (09-06-2008): I double checked the third party insurance and roadtax. The total comes up to under RM200. That means there’s a surplus of RM400+ :)
I heard that the rebate is only available once per person. That means even if you have two cars under your name, you are only entitled to a single rebate. That’s unfair to parents who have bought cars for their children and have two or more cars under their name. Especially if you are have a comprehensive coverage plan since you’ll lose out on the NCB if you change names. Good thing for me is that the cost of third party coverage is the same with/without NCB. Looks like it is time to change the ownership of the car to my wife.
Related posts:
Petrol Prices Goes Up By 30 Sen
New Petrol Prices Set @ RM2.70/Litre
Cooking Gas Price Increase And Other Inflations
Toll Increase For 5 Highways: 20% - 60%
Fantastic Four - Rise Of The Silver Surfer
super blog Said,
June 18, 2008 @ 6:55 pm
What to do?? There’s nothing else we can do…
Just wait and wait
Josette Said,
July 16, 2008 @ 12:11 pm
Hi, can I know how can third party people claim the petrol rebate? What documents do we need to bring to the post office?
Thank you.
G: I just collected mine. There’s an option on the form for you to collect on someone’s behalf. Only difference is that if you collect for yourself, you’ll be paid in cash over the counter but when collecting on behalf, a postal order will be issued in the owner’s name.