The government has confirmed that it will not be revising fuel prices on a weekly basis, maintaining the current method of monthly revisions instead. As reported by Bernama, deputy finance minister Datuk Johari Abdul Ghani said that now is not the time for such revisions.
“We cannot implement something which the public does not agree to because this matter was raised by some association or petrol station operators,” said Johari. His comments were a response to his own admissions in December 2015 that the Malaysian Petrol Dealers Association was keen to have the current system reworked.
The association claimed back then that monthly revisions of local fuel prices caused high losses with fluctuating crude oil prices. Then, Johari said that if the matter was not managed properly, more than 3,200 petrol dealers would be open to losses of up to 70%.
With fluctuating fuel prices each month, the current system allows oil companies to adjust supply distribution to their benefit (based on forecasts of oil prices), which may compromise petrol dealers.
“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.
Johari’s most recent comments to bin the weekly revisions idea echo Prime Minister Datuk Seri Najib Tun Razak’s sentiments. The PM said that global crude oil prices are expected to stabilise at around the USD$30 to USD$40 per barrel (RM126 to RM168) mark, and that no further recalibration of Budget 2016 was needed.
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so according to their terms : public = petrol stations operators…
so where does rakyat fit into this?
International oil price drop, our RON95 drop a bit, electricity bill no drop at all! Like this how to survive, it is understandable why RM2.6bil is needed.
Still can’t give us how you calculate the Fuel price?
I guess Gov will never want to disclose how they calculate pump price…. many stakeholder involved in oil & gas industry would be affected if it pump price too low…. From refineries to Petrol brand to Dealers(pumps) revenue will drops, Gov tax income will follows…
PDAM is so dirty. Go and see who has all the petrol station licenses. They are all UMNo cronies and members.
And some of them, got about 16 to 20 stations each. Yes, just 1 person alone got 20 stations, of course, registered under his wife, cucu, cicit, mak mertua, ayah mertua, anak angkat etc.
The Government needs to come clean aboou the issuance of petrol dealers license cause it is literally free money. Just like AP.
It is said that the minimum a petrol station license can generate about free RM200k of free money per month. Just get 3 Bangla to man the station…..super low maintenance.
Some stations can even make RM500k per month.
I think the Government need to come clean on who owns what.
dont talk kok here. prove to us 1 person owning 16 -20 stations. the most i heard owning 2 petrol stations. you think running petrol station is like running candy shop ka? sorhai!
“It is said that the minimum a petrol station license can generate about free RM200k of free money per month.”
this guy ar i tell you, simply spitting out the halftruth / not confirmed statement. it is said, someone said, my friend said, they said, your mum said. blardy hell.
im not backing up PDAM, but sometimes i hate these kind of people saying something that he also not sure whether true or just rumours. get your facts right before thrashing into this website la bro.
This ‘songlap songlap’ guy should be banned from here since he is frequently bashing with no facts. Only just bashing for the sake of popularity
Starting to think if he`s a paid cyber trooper (regardless on which ever party that paid him)
world petrol price goes up……..Overnight revision of pump prices.
World petrol price goes down…….revised the pump prices at the end of the month.
let it be 40USD 1 barrel.
1 barrel = 159 litre
40USD = RM168
RM168/159 = RM1.056/litre
Current Petrol price for RON95 is RM1.75
Bengong betul. Itu harga crude oil ( minyak belum proses). Ron 95 tu dh proses. Mestila harga mahal.
^ government spy spotted.