Monday, June 2, 2008

Economics Waking Malaysia's Oil Ban On Foreigners

Source: Malaysia shelves plan to ban foreigners buying subsidized gasoline
"We have to find a new effective date because there are other matters, like for example, can we have separate pumps because the Singaporeans are saying that they don't mind paying the market rate," he said.

Full story here

From the first minute I read the news release when Malaysia said it's going to ban foreigners from buying petrol, I knew this would happen. Now they are going to sell their petrol at market prices.

This is just basic economics. Elementary.

And here's my original post, 5 days ago.

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