By coloringiship on Skatehive
Prices have been going up everywhere. The cost of raw food in the wet market has gone up. Groceries are more expensive and of course, petrol too. Like everyone else, I feel it every week when I realize how quickly my money disappears. I sit at my desk and try to make sense of it. The more I read the news and learn, the more I see that inflation isn't just a local problem. It is also being shaped by global events. The US-Iran war has disrupted the oil supply throughout the world. A large portion of the world's oil goes through the Strait of Hormuz, and when tensions rise in that region, prices increase. And how does this affect Malaysia? We are stuck in a middle position. We earn from crude petroleum sold through PETRONAS, and we also import refined petroleum from other countries. So as you can see, the country doesn't reap all the benefits when oil prices increase. More money coming in means more money going out. At the same time, subsidies increase pressure on government spending. The