The recent move to a weekly fuel price announcement should not pose problems if the changes are not too great, said Datuk Khairul Annuar, president of the Petrol Dealers Association of Malaysia in a report by The Star. Dealers’ fuel stock would be sold at a loss if the ceiling price is reduced by more than 10 sen compared with the week before, he said.
“We are hoping the weekly change will be five sen and below, and that the quantum is not too big so that it will not affect our profitability,” he said in an interview. Earlier this week, it was reported that changes in fuel prices will be announced every Wednesday, beginning March 29. Each new price announcement will be enforced the next day.
Consumers’ buying patterns would not be adversely affected if the weekly change was not too great, Khairul said, adding that the domestic trade, co-operatives and consumer affairs ministry (KPDNKK) had assured they would control the price war should there be any change in fuel price at the pumps, as any change from the ceiling price would require the ministry’s approval.