It was previously reported the government is looking at a new fuel pricing mechanism to liberalise the industry, which will likely result in prices being announced on a daily basis rather than the current weekly method. However, such a pricing mechanism will not be introduced this year, according to the domestic trade, co-operatives and consumerism (KPDNKK) minister Datuk Seri Hamzah Zainuddin.
In a report by NST, he said the ministry is still developing a new formula for the mechanism. “Now, we are announcing (the prices) every week. We will continue to do it until everyone understands their responsibilities, be it oil companies, station operators or consumers,” he said.
“Consumers will need to have a group or an application to help them to find where to get the cheapest petrol. When the time has come, we will do it,” he continued. This will allow fuel retailers the chance to compete with one another by providing the best prices to attract customers.
The minister also said he will meet with fuel retailers next week, and will make an announcement on the weekly fuel pricing mechanism following that. Recently, the Petrol Dealers Association of Malaysia (PDAM) said the weekly fuel price announcements were “unhealthy,” and resulted in many petrol station operators having to shut down due to losses suffered.
What are your thoughts on the matter? Do you welcome the proposed switch from a weekly fuel price announcement to a daily one?
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Nxt year u wouldn’t b in govt.dnt wory
That sounds like a plan. Pencen goyang kaki..
-weekly fuel price announcements were “unhealthy,” and resulted in many petrol station operators having to shut down due to losses suffered.-
suurrreeee
Monthly adjustment rugi… weekly adjustment rugi…
Then I can imagine what they are thinking right now. Price can only go up or maintain. Its essentially BN…
Belum Naik or Baru Naik
No turun. So do these crony members wanna sell to China petrol station operators? Maybe can sell 49.9% and see how the Chinaman earn money.
Wont start this year? Then when will it start? This sounds like Proton, who said Geely Boyue SUV will save the company from losing money BUT will be launced in 2 whole years time.
So, from now till 2 years time, how is Proton going to make money?
In this case, how is the rakyat going to trust the current mechanism? Looks like Gomen is trying to protek protek protek PDAM.
Come next year, the usual response, ditangguh! Just like abolish AP, every year, ditangguh. Already 10 years passed still every year tangguh
Where is the formula that was said to revealed few weeks before? Without the formula means no transparency, hence the people will always believe that the ministry is cheating the public by simply manipulating fuel prices to their liking.
Again i says, ur not gonna keep everyone happy cuz its either 1 or the other. So might as well forcibly nationalise all petrol stations and gip 10sen/L until country lingkup, as what was promised from other side if they get elected.
PDAM PDAM…Bila turun dipersalahkan kerajaan. Bila naik kenapa tak puji kerajaan? Cukur la ckit PDAM oi
Not yet 2020 mah, why bother
These Gas Station can only accept profit and no loss.
Monthly, no good, ok than weekly, what weekly still no good, ok daily.
What’s next? Hourly, Minutely, secondly, milisecondly, … until they find a formula for profit where everyone else in the industry is also impacted by market fluctuation. Grow a pair, it’s called risk. Get smart and manage it yourself or get out.
Next Change: Daily Fuel Pricing Mechanism
Coming Soon: Hourly Fuel Pricing Mechanism
After That: Walap whatever price deemed necessary