The weekly system of determining retail prices for petrol and diesel will stay – the government has announced its will not revert to a monthly fuel pricing system, Bernama reports. Previously, the domestic trade, co-operatives and consumerism ministry (KPDNKK) had said that the government was
deliberating on the possibility of a new formula to determine fuel retail prices, including a move to daily pricing announcements.
Its minister Datuk Seri Hamzah Zainudin said the decision to retain a weekly system was because it was the best means to determine pricing, echoing the comments made on the matter in June.
“Today, the weekly determination is the best mechanism because the prices really follow global prices, there is no other way. The mechanism also ensures justice to consumers and traders in the industry,” he said.
Over the past couple of months, KPDNKK had been in discussions with the ministry of finance (MoF) on how to improve the current method of setting fuel retail prices. Such a move, it was said, was to find ways to prevent petrol station operators from suffering losses if fuel prices continued to fall under the current method.
Fuel prices have climbed in the past month – for the current August 17-23 week, RON 95 petrol goes for RM2.15 per litre, while RON 97 petrol is priced at RM2.43 per litre. The price of Euro 2M diesel went down from the week prior, now RM2.04 per litre at the pump.
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What you want ?!
PDAM sekarang senyap je… berjoli sakan
HAHAHA, 1 week down, 3 weeks up, congrats
The weekly system is a sham. Look at below and see how come again our Ron has gone up yesterday ??
Global oil prices dropped. Somemore Ringgit has strengthened against the US dollar
Aug 16, 2017 51.15
Aug 15, 2017 50.96
Aug 14, 2017 50.73
Aug 11, 2017 52.10
Aug 10, 2017 51.90
Aug 09, 2017 52.70
Aug 08, 2017 52.14
Aug 07, 2017 52.37
Also, we are overpaying gomen by about 70 sen per litre.
According to Global prices, ron 95 should be around RM1.40 to RM1.50
calculate that with 10 million motorist. Gomen makes billions extra
But yet universities and schools got no funding and hospitals have cut back medicine and some cannot even do blood tests also.
what to do bro, just pray
The floating price here is follow gomen punya wallet. This month they need more, naik!!! Next month no need, just maintain current price. Really WTF!!!!
Any mechanism that entails hard work & brain will NOT be use. No need to give excuses if U just publish the formula on how U arrived at the price if there is truly no fuel subsidies.
Every week is going to be like this
– up 5 cent then next week drop 3 cents
another next week Up 10 cents, then drop 4 cents…..then up 7 cent drop 3 cents……on and on….
At the end actually the pump price in Malaysia is up eventhough world crude price keep dropping. Clever manipulation
apa lu mau kpdnkk? when fuel price continuously increase, then say no need change. when fuel price drop, then pattern banyak sudah
this govt still claiming that what ever they did,doing n will do in future is beneficial for rakyat.so ultimately statement showing least or zero competent pple have power to run the govt n ultimately rakyat suffering bez of their stupidity
Till today the Ministry has yet to be totally transparent on the actual calculation for fuel pricing.
Since they’re gonna remove fuel subsidy sometime in the future, might just as well go to DAILY fuel float pricing AND let market forces dictate the final pricing at the pump. If retailer A choose to do promotion, then it’s his pasal lah. That’s free market competition.
How sad that the petrol dealers have had to endure the price increases the past few weeks…it must be torture for them… imagine the guilt knowing that the lower priced petrol they purchased the week before is being pumped into vehicles at a higher price….How do they sleep at night?….and suddenly they have fallen silent as the prices have risen….
after a long time, people wouldn’t bother to go to the station to pump even when the price is up or down.
I like thix system..i setuju..othwise Wed very boring..la…somemore better thsn 4D..i forecast it will hit RM3.00 by end year..
Karma will be upon KPDNKK very soon.
So when crude oil hit $60 per barrel, ron95 will be at rm3.00 per liter, nice
Welcome to Mesia. The MagicLand where UP, UP and UP. What goes UP stays UP, and Would GO UP samore.
World oil prices go up, Mesia price definitely up (fast fast).
World prices go down, Mesia price still up (and authorities make donno about down prices)