Tuesday, June 30, 2015

New fuel prices? You'll have to find out yourself

5:11PM Jun 30, 2015
By Kow Gah Chie
Petrol dealers nationwide have welcomed the government's decision to cease the practice making prior announcements of the monthly fuel price changes.

“This is in line with our wishes as we have urged the government to do so.

"This is because early announcements of petrol price hikes will only interrupt the smooth operation of petrol stations," said Hashim Othman, president of Petrol Dealers Association of Malaysia (PDAM).

He said the disruption occurs when people rush to the nearest petrol stations whenever there is a fuel price hike often resulting in the petrol station running out of fuel.

The petrol station operators are also ultimately accused of hoarding stock, he added.

Likewise, consumers often stop purchasing fuel one day before the expected price increase and thus the delivery and stocking at the petrol station is interrupted, said Hashim Othman.

He was responding to the announcement made earlier today by Domestic Trade, Cooperatives and Consumerism Minister Hasan Malek who said the government would no longer announce new fuel prices on the last day of the month.

"We have decided to stop the previous practice of announcing the new prices on the last day of the month.

"From now, motorists will only know at midnight on the last day of the month if the prices are going up or down or are maintained," said Hasan Malek as quoted by The Star.

The government adopted the current methods after it abolished fuel subsidies last December and adopted a managed float mechanism.

RON95 and diesel are currently priced at RM2.05 per litre while RON97 is sold at RM2.35 per litre inclusive of GST.

[More to follow]
~ Malaysiakini

No comments: