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Petrol or also known as gasoline is denoted as the light fuel oil which is obtained by the process fractional distillation of petroleum Oxford Dictionary 2013 Petrol is abbreviated from the word petroleum which is derived from the Greek word petros and oleum Health Protection Agencies 2011 Petrol started to be used as product name by a London company Carless Capel and Leonard at the end of the 19th century Nowadays it becomes an indispensable part of our life which is widely used as the fuel in vehicles and petrol powered engines It can also be used as the power generator of electricity However due to the strong oil demand from countries all over the world even Malaysia as an oil-exporter country for over the 20th century fuel price has been fluctuating ever since and increasing from day to day Back to the days before a litre of fuel only cost us RM089 and it started increasing to RM110 since 1990s For the year 2008 a litre of petrol increased by 78 cents from RM192 which then cost us RM270 The Star 2008 Today a litre of RON97 is retailed at RM285 per litre whereas RON95 at RM210 The increase of price on fuel pump at around 20 cents per litre may be helping the government to save about RM11 billion this year and even RM33 billion every year in futureBloomberg News2013 Although some might think that government should increase the petrol prices as a channel to develop a country economically however it gives many negative impacts in other ways Thus the purpose of this paper is to point out the consequences of the increase of petrol prices on individuals society and a country itselfFirst and foremost the increase of petrol price may cause the increase of domestic and goods price dramatically When there is an increase in petrol price the transportation fees may increase as well Many businessmen are unwilling to spend more
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