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So it’s virtually confirmed; the price of petrol (or gas for you American folks) in Malaysia will be hiked. Abdullah Badawi says it will be announced and implemented tomorrow (Wednesday, 4 June 2008). Shahrir Samad (Domestic Trade and Consumer Affairs Minister) says although the announcement might come tomorrow, implementation would take longer.

So who’s right? Our PM flip-flops so much that I find it becoming harder everyday to believe what he says. I tend to swing towards Datuk Shahrir in this issue, primarily because he’s a trained economist and petrol price control is under his ministry’s area of responsibility.

However, I can’t resist the temptation to guess what’s the new price of petrol would be soon. I’m sure many Malaysians and non-Malaysians do to. So why not make this guesswork (or speculation as our beloved PM seems to call it) be both fun and profitable.

I am now officially launching the “HTNet Speculate Guess The New Price Of Malaysian Petrol Contest” where there can only be one winner. The first person who guesses the correct revised price for a liter of petrol in Malaysia will be given $30 (USD)!

Terms and rules of this contest are as follows:

1. Payment will be made via PayPal (and only PayPal!); so participants must have a valid PayPal account. No PayPal account yet? Get one here
2. Use your PayPal account email address in the as the commenter’s email address. Failure to do so will result in disqualification from this contest
3. Only one guess allowed per person; anyone making more than one guess (even in jest) will be disqualified
4. The price should be quoted in RM and should be up to two decimal points; eg. RM2.65
5. This contest will be closed on Wednesday, 4 June 2008 00:01 hours (12:01am). The time is Standard Malaysian Time (GMT+8)
6. The winner will be the first person who guesses the exact correct figure. If there are more than 20 entries, and nobody guessed the exact figure correctly, then the prize will be awarded to the first person who guessed the closest without exceeding the announced price; eg. Person A guesses RM2.63 and Person B guesses RM2.66. The eventual price was announced as RM2.65. This means Person A wins.
7. If there are less than 20 entries, and nobody guessed correctly this contest would be nulled and voided; so get your friends to join in the fun as well!

So what are you waiting for? This has got to be the easiest way to win 30 bucks!

UPDATE: Contest closed now. Let’s wait for the official announcement and see if we have a winner.