Oil price is up above 61US$
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see how the OPEC is making the easy money...
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Budget day will be brought forward one month. All policies announced during budget day will also come into effect one month earlier.
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Budget doesn't have to be brought forward. Most people have the misconception that prices are fixed based on current rate. If that being the case, we would see fluctuating rates on a daily movement.
When price of oil was rising during the last middle east crisis, did we see citizens calling for the govt to raise prices and tariffs? Why are we demanding for prices to be cut now then?
Prices are calculated based on a moving average and any rise/fall in price takes into the consideration of cost of material (purchased over a period of time). If the govt bought enough supply of oil when prices are down, they will be able to maintain the tariffs for a longer period. However, when these supplies run out and new supplies are acquired over a higher price, then tariff rates need to be raise to compensate for the change.