Review the pricing mechanism for oil

THE recent sharp drop for world oil price trend is a cause for concern for Malaysians. In August, bent crude oil was priced at US$105 (RM343.77) per barrel which tumbled to US$85.40 (RM279.60) last week translating to a 19% drop.

What are the implications on the various stakeholders especially Petronas, the Government, petrol stations and the consuming public? Not good, I should say. Except for the petrol kiosk owners, all of the rest lose out in one way or the other.