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By now Malaysian motorists would be used to expecting fuel price revisions at the start of every month, under the current managed float system first introduced a year ago. If the Malaysian Petrol Dealers Association gets its way, however, revisions would be done weekly instead of monthly.

The association has urged the Malaysian government to revise fuel prices on a weekly basis, as the current monthly system could cause them to incur heavy losses. As it is, the system has severely affected the volume of fuel supply to petrol dealers, the association has complained to Deputy Finance Minister Datuk Johari Abdul Ghani.

“A lot of oil companies now use this opportunity by sending the petrol dealers oil supplies in large volume at the end of each month if they expect the price to fall the following month,” he said today.

“If the fuel is expected to increase in the next month, they will then reduce the supply,” the Deputy Finance Minister further explained, according to The Star.

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Johari went on to claim that if the matter is not managed properly, more than 3,200 petrol dealers would be open of losses of up to 70%. In essence, the current system allows oil companies to adjust the supply distribution to their benefit (based on forecasts of oil prices), which may compromise the petrol dealers.

To solve this issue, the Petrol Dealers Association has suggested that fuel prices be revised every week, with a maximum price difference of 5 sen, so that the price change would not be “too noticeable” for motorists.

“This will benefit the consumers, the petrol dealers and the oil companies regardless of what the market price is,” Johari concluded.

What do you think of this, folks – would you be open to weekly fuel price revisions? Let your thoughts be heard below.