The domestic trade, co-operatives and consumerism ministry (KPDNKK) will meet with oil industry players to discuss a new formula to determine fuel prices next week. In a report by Bernama, its minister Datuk Seri Hamzah Zainuddin said the move was to maintain stability in the domestic oil industry.
“The people must sympathise with petrol station operators who suffer losses when oil prices drop. They (fuel retailers) feel they are the victims (when prices drop),” he explained, adding that the ministry would ask the government to assist fuel retailers that have been badly affected by the deviation in oil prices.
Recently, the Petrol Dealers Association of Malaysia (PDAM) described the weekly price adjustments as “unhealthy,” and the cause of several station closures since its implementation. At the time, the ministry responded by urging station operators to look for other sources of income to complement the sale of fuels, in order to generate a larger profit.
Fuel prices have been on a decline since the first week of June 2017, with RON 95 petrol now being priced at RM1.98 per litre from RM2.10 per litre during the June 1-7 period. Meanwhile, RON 97 petrol is currently sold at RM2.24 per litre from RM2.38 during the aforementioned period (June 1-7).
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I remember when Mahathir allowed the gas stations to operate their own convenient store, all the smaller shops were greatly affected. They said small stores need to reinvent themselves.
Well, when the station operators are now faced with sliding oil price, they seek government to interfere. It seems that they’re the ones failing to reinvent themselves.
I really hope that EV technology takes off in a big way (which it will) so we do not have to be tethered to gas stations anymore.
PDAM bising lagi? When go down, sure they make noise but whenever price goes higher, PDAM members make millions each and they keep quiet. But when price goes down (which is rarely), PDAM members demand Government pay them compensation.
But past 20 years, each made millions in clean profit each year. Why did they not save for a rainy day?
High time, all petrol lesen is open to all 30 million people in Malaysia. Don’t give it to a selected group like the AP permits. Give it to every deserving Malaysian who can afford to run a petrol station.
The PDAM are a bunch of greedy cry babies. If they cannot compete, open the lesen up to everyone in Malaysia
Btw, what happened to the supposedly price war by station operators?
Gomen said this would be healthy as some stations can sell below the official price.
What happened? PDAM so stingly, cannot even drop 1 sen for the rakyat but demand gomen to pay them billions.
PDAM members are all kebal. Cause they are cronies, wives or sons of existing politicians. So, anything they say, Cabinet will kowtow!
Can PT block this pakcik, it is sick to see those fake posts.
This new formula – the victims would be 30 million Malaysians.
Next week say supposed to drop 8 sen. It will drop only 3 sen. The 5 sen is to subsidise PDAM. Siapa rugi? Rakyat rugi
Sis, all politicians talk the same like this. I can refer you to better car blog that talk soley on car only. This takda standard.
YOu see,they r coming out with a NEW FORMULA to bail out PDAM recalcitrant shambolic cry baby dealers.
So,all this while…they use one SECRETIVE FORMULA.
Now they adjust the formula to BAIL OUT some sampans which cannot stand typhoons.
Might as well continue with the previous fuel subsidies.Everybody happy.
BOLEHLAND….THE LAND OF BAILOUTS(mas,protong,bbmb,now PDAM)
Dah 50 tahun, masih nak kerajaan tolong. Malu.
Totally agree. If they cannot compete, Goment should open the lesen up to everyone in Malaysia. Who pity us when petrol price hike!
Bro, it IS open to everyone. Go and write in to any of the Petrol companies to be a dealer. If you meet their criteria, they will call up for an interview.
Officially opened to everyone. But unofficially and in practice it is open to selected few people.
AP the SAME. Officially open to everyone. But unofficially and in practice, it is open to just selected few people
All new licence to operate a petrol station must go to a Melayu-Islam.
Sapott Sapot Ayah Vincent
To PDAM:
Bila turun dipersalahkan kerajaan. Bila naik kenapa tak puji kerajaan?
It IS open to everyone. Go write in to any of the Petrol companies to be a dealer. If you have strategic piece of land, they’re gonna be all ears. No such thing as petrol station dealers limited to elite few. Got dealers from all background and ethnicity- if you meet their criteria and standards, they’ll be more than happy to meet up with a potential business partner.
It is not open to everyone. Though they say it is open to everyone, but in reality, you know and I know.
Dude, it’s not really open to everyone. The most specific requirement is skin color. Go to any petroleum company website … they specifically ask for that. It is what it is, don’t pretend it isn’t.
My sister and brother in law applied for one few years back. They didn’t get it despite meeting all the requirements. From what I know nowadays new petrol station license are for bumi owned company only (not very sure it is full 100% bumi or 51% bumi owned), unlike 20 back when it was still opened for everyone.
Greedy PDAM just like greedy pink diamond!
Totally agreed. No point for us to target Vision 2020 or Transformation National 2050 if some segment of business needed subsidy from govt. Business is about being competitive and addressing the market needs. If there is a form of subsidy without fixed period, that is going to get the market all twisted. Further, I thought all petrol station dealers were given a fixed margin to operate with. Its now down to them operate more efficiently to protect their margins.
100% true words but im malaysia true words no value ryt
Your comment disgusting.
All the business owner want to earn revenue. From this revenue they pay gaji dan sebagainya. Why u hentam station minyak dan x hentam bisnes yang lain yang buat untung gila gila?
kamon laaaa..
u rasa harga barang di Malaysia yang mahal sekarang ini x salahkan peniaga ke?
I beli vico di pasaraya RM13. Kilang jual harga promosi RM6 sahaja. Wow rupanya peniaga barang untung banyak. Why not jual murah dan kasi harga barang di Malaysia turun?
Peniaga jual barang untung banyak dan sebabkan harga barang naik u x bising,
station minyak kerugian u salahkan mereka pula
mereka bukan x untung, tetapi rugi disebabkan mekanisma bagaimana proses jual minyak petrol dilakukan antara oil company dengan petrol station
faham isu dulu, bukan hentam semua
Dude,
The news here is about petrol stations and the owners/dealers, of course la these guys commented about that.
Next time if PT posted news about Giant/Tesco/Aeon Big, then we will discuss about your beloved Vico okay?
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cheapest? Proof??
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Bodoh. When make comparison, don’t exchange the price sohai
Compare with Saudi le?
When you look crude oil prices, athey are all displayed in USD. When sold at USD40, it’s not sold at RM40.. why so dumb one..
What about Indonesia and Brunei as Malaysia is net exporter? Why compare with UK and if want to compare then akso compare income level also.
Do not be selective.
Dear John,
When YB Kunta Kinte (I kid you not I threw up a lil bit in my mouth merely mentioning his name) made the currency conversion with the cars prices, you went “oh wai..” but now you are doing the same for petrol price? Be consistent la bro
I have told this before, he is a paid dumbo. Same like kerajaan say Singapore Ron 95 is RM6 per liter.
But kerajaan forgot to tell, Singaporeans earn 10x what Malaysians earn. Average (purata) gomen salary in Singapore is SGD8000 (RM27,000)
Average (purata) gomen salary in Putrajaya is RM1200.
RM1200 vs RM27,000. I also don’t mind paying RM6 per liter
Indonesia fuel price today is more than in Malaysia. Cheapest price from Shell is about RM2.60 per liter. Even Pertamina sells the cheapest RON92 at about RM2 per liter.
this john guy is mad. Mad people only happy with high petrol prices
I thinking john got mental problems
only a psycho will make such false statements. People susah payah in Malaysia. Get real!
Dear john,
We welcome you with open arms to our centre
mana ada cheapest? Nak kelentong orang ke?
john thinks people here are ignorant. Admin, pls ban this guy
Because dear john, petrol prices affect food prices which affect our monthly balance by a few RM100 for a 50sen or RM1 food price hike. Salary no up, petrol up little, food up 99, die like that. Boss also no up salary no matter how hard you work during ‘trying times’.
“The people must sympathise with petrol station operators who suffer losses when oil prices drop. They (fuel retailers) feel they are the victims (when prices drop),”
Did petrol station operators sympathise with the rakyat when we suffered heavy oil prices? Did they? Don’t they think we rakyat are the biggest victims here?
Come on lah, this is all plain bullz. The tables have turned now. It’s either they rethink their business strategy or just close shop. Don’t be such whining babies.
with the new technology for oil drilling by USA, oil price will be doom forever..time to move on to other industry
automation, lower oil price will make Ringgit sink further as brain drained happened in decades ago, and education failed
most GLC sucks rakyat money instead of earning foreign currencies..decades of failed business now surfaces
I’ll predict this thing will happen soon. In other neighboring countries their fuel prices change daily.
We only heard about this when prices drop. How about when price increase? Untung tak kasi orang tahu?
Gomen must curb our PDAM members from employing Bangladeshis. Nearly all stations are fully manned by Bangladeshis. Not a single Malaysian is inside.
Calculate that number with about tens of thousands of stations, billions of ringgit per year are expatriated to Dhaka.
Why cant PDAM employ Malaysians so that the billions can circulate within our own economy and within Malaysia?
Just like AP, gomen give you petrol station lesen to create jobs for locals and not to sell your business or employ foreigners.
You are given lesen that make millions of ringgit clean profit per year cause gomen wants you to employ Malaysians.
Better to gip jobs to Bangla than to locals. I myself never employ locals…oh wai!
young & jobless 10.7%
wahai john, don’t you care for your own Malaysians? Don’t you care for your own bangsa?
Something is wrong with you john. Pls see a psychiatrist
kawan saya cari kerja di stesen berdekatan, boss kata sudah ada bangla
I rather give the jobs to bumi than to orang asing!
Please care for our own country!
Preach the good word brother. Nationalism, ho!
For years they have been protecting the AP cheaters. All get free ride in life at the expense of 30 million Malaysians.
Now, they protect the PDAM dungus. This is why we need DOJ to help us. This is why we need Geely and China to help us
Show me locals who are willing to do things those bangladeshis are. I’ve been running restaurants since 98′, can say for a fact locals that are willing to tldo these jobs are few and far in between.
so many locals want jobs. But no jobs. Maybe you are lazy, don’t imply others lazy
Used to run a nasi kandar in klang valley. Advertised for local staff for half a year. Poor response, turnover and training was a bitch. Any sensible bizman would do exactly like what the factories in Pg FTZ do- hire legal foreign workers.
And how much do you pay the Bangladeshi’s? They are happy to accept a frankly horrible standard of living, cramped, unsanitary housing with no healthcare so that they can send the money back to support their families in Bangladesh. The money does not get spent in Malaysia beyond basic necessities. Malaysians who are spending in Malaysia and have to deal with the cost of living here, need to earn more to meet their basic needs. Your ilk are those that complain against the minimum wage so you can maximise your profits. There is no equitable distribution of wealth in this country and it will get worse. Can only hope the government goes after company tax, but hey, too many powerful people stand to lose so it won’t happen.
Just tell them to close the station for a week or two until price went up lor. They don’t sell = no loss lor.
LoL…
Don’t know how to operate then just retire la. Money dump into Felda or ASN/ASB lor. Government guaranteed.
hahahahaha barking dy.
Please name the new system Nasi Lemak Fuel Management System(NLFMS)
No name it Banana Fuel Management System (BFMS). Banana is a funny word, many silly people say.
Why not char siew fuel mgmt system..spunds better
new formula to make PDAM happy :
If global price up, then local price up
If global price down, local price remain
I thought this is the current formula??
new formula which allows the sanctioning bodies to extort more money from the locals and foreigners alike….
Wow… while i do understand the predicament they’re in… simply buying stock at certain price, earning form a small margin, then only to be told to sell it at lower price… seeing these dejected faces of the kiosk owners begrudgingly coming to their kiosks to see their staff running their business in their mercedes n bmws… just make me feel… meh.
From what I understand, not many actually own stations. Most are company owned-dealer operated (CODO)- stations belong petrol co., dealers are appointed after selection process. Application for dealership is open to anyone who fit their criteria n standards.
If not making money, surrender the operating license, others still q to taking over petrol station!
Same case like TOLL, every year loss money and want government to pay billions. But when opp propose government to take over the business, billions factor in as goodwill!
Funny accounting system in homeland!
Dah besar2 pun mintak susu lagi… ini bisnes.. ada untung rugi…
Tak kira hari hujan mahupun hari panas….Payung mesti ready.
Try implementing any weird formula and my votes are going to the opposition. Nobody is gonna sympathize honest consumers!
Yeah.. and then opposition will do even worse.. They all like to talk only, yet do otherwise.
My opnion on this matter is, The Govt should put a Petrol Tax for RON97 because car owners that uses RON97 are Cars with bigger CC ( sports engines or engines that requires RON97 run ). Which they can effort to pay for higher Octane fuel.
Anyway RON95 can be use in most modern engines except those Supercars / Sportscars. Which owners can effort to pump RON97. Its like the concept of Taxing the Rich, haha…
RON97 ada GST lah. RON95 is exempted.
Government only protect the rich, what happen to the rakyat when they complain the raising cost of living?
as a petrol user..i don’t understand so many years of good times, there is no noise came from petrol operators / PDAM.
Now after change to weekly adjustment policy not more than a year, you guys can’t face challenges..
by the way, gomen promise disclose petrol price calculation leh…where is it ? Even MCA president Mr Liow also want to know …
A new formula to suck money again…… KPDNKK are your money use up NEED BECOME VAMPIRE AGAIN?
Pdam patut minta minta petrol yang dibekalkan oleh syarikat dibayar selepas habis dijual. Bukan bayar sebelum dijual mengikut harga semasa.
Greed
New formula = 100% confirm petrol price hike next thursday
Make sure u fill up your tank full by wed morning
I guess the new formula can be summarized in 2 lines.
1. Mesti Guarantee Untung Petrol Station Bosses.
2. Rakyat mesti bayar lebih, aku tak kisah
Moral of the story: fill up your tanks by Thursday.
The minister office too free and got nothing else to do? Think thoroughly before implementation pls..don’t make yourselves look like fool (though you guys are well known to reveal stupidity internationally). No face douuuuu
The minister and the ministry should NOT have listened to Lapiji’s suggestion the in the 1st place. It was Lapiji who came out with the weekly price suggestion and it was also Lapiji also recently said that weekly price caused a lot of issue to petrol station operator..
A simple solution is to introduce free market price. Petrol station can sell at a price they want, factoring in their buying price and competition. Nothing radical as this has been done in many other countries for a long time. At most the government can set a ceiling price and make sure there is no cartel such as PDAM.
Unfortunately, this will not happen as our politicians all have vested interest in most businesses in the country.
Don’t know how to calculate in long term? So many countries out there to study and benchmark!
If feel victim, then close your petrol station and makan gaji. All businesses are victim of market forces.
Understand the need to be sympathetic as petrol-stations (PS) involve many staff-levels but can’t help being skeptical of the need for a new formula because it may be an issue of taxing the many to benefit a few so it is important to know who owns these PS
Brace yourself everyone..fuel up next week ..cronies and the gang need duit raya..
Kesiannnn rakyattt
Sampai bilaaaaa laaa…..
furthermore, cars are expensive, tolls cost RM2-3 for just a short stretch. roti telur pun sudah rm2.50 ..
Bloody liar.When u first float the price u said u will publish the formula soon. Now whenyou want to revise you said ‘soon’ oso.
Protek Protek. Politicians Mesti Protek Crony, Anak, Bini, Adik that are petrol station owners. Later go home, kena nag nag nag.
Janji di chapati. Satu lagi Projek Protek.
Rakyat mampus tak apa. Not important pun.
Ever searching for ways to squeeze the rakyat.
What I can think of…is just few options:
1. Increase the Profit Margin (citizens/users lose, win for gov, win for blood sucker)
2. Drop has Limit, Increase has No Limit (citizens/users lose, draw for gov, win for blood sucker)
3. Drop has Limit, Increase has Limit (citizens/users draw, draw for gov, draw for blood sucker)
Conclusion: mostly citizens will take the hit…
So we all remember the time when oil prices were subsidised and everyone said, WE SHOULD LIBERALISE THE FUEL PRICE, CANNOT HAVE SUBSIDIES FOREVER, yadda yadda yadda.
So the government came up with the monthly formula and the petrol dealers complained.
Then the government came up with the weekly formula, AND the petrol dealers complained.
Eh, you f**kers are running a GOING CONCERN. Like any business, IF YOU CANNOT STAND THE HEAT, SHUT THE F**K DOWN. There are far too many petrol stations in any case. Why should the rakyat be burdened with uncertainty over your need for profits?
new formula rakyat rugi even more.
KPDNKK claimed that, when fuel price drop, Most (98%) of consumer will wait till next morning to pump.
But when it raise, some (may be 30%) of consumer people will Q at station, to pump the lower fuel price before midnight.
It make the game become sure loss to them.
To rakyat, open the operating license, let oil company run their own petrol station. We just kill those incompetence KPDNKK members, and re-install fair competition. If all oil company gang up to raise price, we still have government own Petronas to balance the game! That’s the best solution!
As for short term, the best solution is, allow petrol operator to limit the sales volume to 10L per customer when petrol price is increase for next day! That will help to balance KPDNKK impact during petrol price raise.
lol, 10L? some people may need go back petrol station on next day…some people who drive long distance need queue more to get petrol from different stations. Please give reasonable comments.
Another solution is…
The company will hold the stock instead of petrol station, until the petrol is sold at that current price, then the money earn should calculate and go back to petrol station(their profit margin) and company(the cost). However, this my rely on honesty of the petrol stations…hmmm…
Meaning that if you need to travel long distance, you need to pump before 6 PM. You need to adjust your life style!
Like our PM and minister tell us, Kerja kuat lar, you can work part time at night !
This is a solution, susah consumer, senang KPDNKK!
What to do, this is Bolehland!
sympathize with them?? then who the hell going to sympathize us?? farking hell tauke minyak all wanna get rich when all other people affected… if cant follow tutup kedai lah why the hell we need to subsidize their profit.. cannot brain all this
haha
thanks to all you voters
new formula
new tax on foods
good luck in coming months…
guranteeee gst 10% above in 2018
when rakyat complain they can’t even keep a single piece of RM100 in their moth-ridden bank savings, nobody listens. but when fuel station owners complained the decrease in deposits into their million dollar savings, G listens.
what does it tell you? go figure. I can only say, WELCOME TO MALAYSIA! Cuti-cuti Malaysia….eh tourist pun tak mau datang sebab ada tourism tax.