The domestic trade, cooperatives and consumerism ministry (KPDNKK) has stated all petrol companies and station operators are required to submit an application before giving out discounts on the specified ceiling price of fuel.
In the report by The Sun, its minister, Datuk Seri Hamzah Zainuddin explained the requisite is necessary for the interest of consumers so they are not surprised by the discounts.
“If they (petrol companies and station operators) want to carry out promotions, they certainly must have the plans. Therefore, they must come to us and inform us. If they do that, we can give approval at any time.
“Once approved, we inform the public that certain companies on certain date or period are having promotions. We must make sure there is no surprise for consumer,” he said. No time frame for companies to submit their applications to hold promotions was provided by the minister.
Malaysia will soon switch to a new fuel ceiling price mechanism this Wednesday (March 29), where fuel prices will be announced on a weekly basis instead of monthly. Fuel retailers will be able to follow the government-set ceiling prices or set them lower.
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AI-generated Summary ✨
Comments highlight frustration with government control over fuel pricing and discounts, calling for transparency and less bureaucracy. Many believe the approval process for discounts and weekly price changes hinder competition and lead to overpricing. Some mention potential corruption and unfair advantages for certain petrol station owners linked to political interests. There is concern about overpayment, misleading advertisements, and the need for cleaner fuel standards. Overall, sentiments are negative towards the government's handling of fuel prices and discounts, advocating for freer market practices.