In a change of heart, the Petrol Dealers Association of Malaysia (PDAM) has welcomed the implementation of weekly fuel price revisions, according to The Sun. The association previously stated it was unhappy with the move, saying it is detrimental to consumers in the long run.

“They have agreed with what we are planning to do,” said Datuk Seri Hamzah Zainuddin, minister of domestic trade, cooperatives and consumerism. The agreement came following a meeting between the ministry and the association on Tuesday, he added.

The minister had announced on March 4, 2017 that a ceiling fuel price would be announced on a weekly basis starting from April, replacing the monthly basis currently in place. Fuel retailers can then decide to either follow the set ceiling price, or lower them to entice customers.

The association had said not too long ago that such a move could lead to price war among fuel retailers, which will further hamper profit margins that have reduced in recent years. “It was a misunderstanding of what they are supposed to do. I think that’s been resolved after the meeting,” Hamzah clarified.

The association has long suggested a move to weekly price updates for fuel, going back as far as December 2015. At the time, it said the current monthly system could cause fuel retailers to incur heavy losses, and that weekly price updates (of smaller fluctuations) would not be “too noticeable” for motorists.