Hot news in the newspapers today is the increase in the petrol price.
Petrol price is up by 78 sen from RM 1.92 per litre to RM 2.70 per litre and will be reviewed every month.
Rebates of RM 625 per year would be given for private vehicle with engine capacity of 2,000 cc and below, including private pick-up trucks and jeeps with engine capacity of 2,500 cc and below.
Wonder how much of your petrol consumption (past) would be adequately covered by the rebate of RM 625?I did some calculations as below:
Monthly rebate = RM 625 / 12 = RM 52.08.
Ratio of petrol price increase = 2.70 / 1.92 = 1.40625
Assume monthly petrol consumption (past) = X
For increased petrol consumption (new) to be equal to petrol consumption (past) plus rebate, then : 1.40625 X = ( 52.08 + X )
Therefore X equals to RM 128.19.
That means if your past petrol consumption is RM 128 and below, the rebate of RM 625 would be enough to cover the price increase ( for cars with engine capacity of 2,000 cc and below).
I have also included my excel spreadsheet to calculate your additional expenditure due to the petrol increase, for your petrol consumption below:
For example, if your past petrol consumption is RM 400 per month, you have to fork out an additional RM 1,325 per year due to the current petrol price increase.