According to a report by The Star, Petronas will allow its dealers to lower fuel prices at their pumps below the weekly ceiling price set by the government. However, it stressed that dealers looking to do so must seek the approval of the domestic trade, cooperatives and consumerism ministry (KPDNKK), and discuss such a move with Petronas Dagangan (PetDag) beforehand.
“If dealers decide to sell at a lower price, they are responsible for their margins and not us. It is all tied up with sales volumes and margins,” said Mohd Ibrahimnuddin Mohd Yunus, PetDag managing director and CEO. He added that the price-setting mechanism does not impact PetDag’s earnings.
“Last year, we cut our inventory day to four to five days from six a year earlier. We are looking to cut our inventory days further, especially with higher volatility in world crude oil recently,” PetDag chairman Md Arif Mahmood chimed in.
“It is not a new mechanism that is giving us more money. It is still under the same managed float system. The only difference is that this is just a shorter timeline and is better when it comes to managing the volatility of global crude prices,” he explained.
The weekly fuel price announcements began three weeks ago, and fuel retailers are currently not allowed to offer discounts on fuel, and must follow the retail price set by KPDNKK. As of now, RON 95 is priced at RM 2.27 per litre; RON 97 at RM2.54 per litre; Euro 2M diesel at RM2.21 per litre; and Euro 5 diesel at RM2.31 per litre.
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Syabas Petronas.
Gahmen prihatin..
Which dealer is rich enough or desperate enough to do this? Margin from selling petrol or diesel is really, really low until have to depend on the attached kedai runcit to get profit. Some Petronas dealers have to make money from selling nasi lemak.
Not that long ago, our gohmen said cannot. Now can pulak….
Some people already see this weeks ago and there could be more subsidize oil prices in rural areas. Gohmen can say not fair for those living in town and kampung pay same oil price. But actually Gohmen will do this to get votes
Why only petronas
What flip flop is this? The PDAM fellows are so greedy. They will never give 1 sen reduction unless they are ordered to do so.
Shocking there is so much flip flop
No wonder PDAMs member are not bising2 anymore. Every week they made extra profit.
Eleh.. Tokkok pandai la. If it was anyone here were operating a station, none would give out that 1 sen discount also. Bunch of self righteous hypocrites.
Bagusss Petron..tolong ringankan beban..
hidup rakyat mmg terjejas….
Bayangkan lah org kita kuar 80ribu duet KWSP utk byr PTPTN anak..akaun pon dh kering.
Petronas (baru plan nak) bagi diskaun, Petron yang dapat nama.
Then create anti-competition law for what?
For show only, u don’t see anti-competition for cars what
Anti-competition law? Sure or not you are quoting the right law.
trust me
this will not happen !
What is the point of seeking approval still ?
discount 1 sen soon. go thanks Petronas ok.
Confuse. Only petronas or including other petrol brand?
Can KPDNKK approved the dealer’s request to sell at lower price overnight? If the process took days and weeks, what is the point?
Can Petronas stations under different dealerships have different pump price? If Yes, it will be a real mess. If No, who can decide for all dealers?
Bila naik dipersalahkan kerajaan. Bila minyak Petronas turun kenapa tak puji kerajaan? Ada yg dah turun. Kangkung dulu naik sekarang ni dah turun.
I will believe it when I see it.
With a few cents discount from buying petrol, now I can use the saved money to buy a can of sardin to feed my family of 7.
My entire family is very very bersyukur for the govt….