Tomorrow’s reinstatement of weekly fuel price updates has now been postponed amid opposition from the Petroleum Dealers Association of Malaysia (PDAM), according to The Edge Markets and Astro Awani. This reverses an announcement made by finance minister Lim Guan Eng last week that would see the managed float mechanism return, having been put on hold in the wake of the 14th general election.
Lim released a statement saying that the government will first study PDAM’s request to raise the sales commission of its members to cover the likely higher operating costs, adding that “the prime minister will meet with PDAM soonest possible.” The association is looking to raise the commission to 15 sen per litre for both petrol and diesel, up from 12 sen and seven sen respectively.
As a result, fuel prices will remain at the current rates of RM2.20 per litre for RON 95 petrol, RM2.50 per litre for RON 97 petrol and RM2.18 per litre for diesel, Lim continued. “A new retail price for petrol will be made before the end of the first week of 2019,” he said.
The weekly fuel price float system was to be reintroduced following the falling prices of fuel prices, with Lim previously saying that updating the fuel prices on a weekly basis would allow consumers to enjoy rapid price changes, in line with similar price changes in world markets.
Lim added that as such, fuel prices were expected to drop tomorrow, and that if the downward trend in world crude oil prices continued, Malaysians would see retail fuel prices lowered every week.
This was met with opposition from PDAM president Datuk Khairul Annuar Abdul Aziz, who said on Friday that dealers had suffered massively from previous changes in the pricing mechanism. He claimed that during the introduction of monthly and weekly floats, retailers lost a total RM61 million and RM30 million respectively.
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U-turn lagi..no balls
Money, lotsa money, can cover their cowardice.
Oh and inb4 basher troll claims all these negative comments below r from me. Lolz!
Betuii… Whut so spesial uoll papadoms ?
u turn again???
Kerajaan U-Turn. Rakyat dicapatikan, dealers diutamakan!
Another U turn.. Lol
My god. They have been collecting illegal tax for months. Now using PDAM as an excuse to further delay. Is this the G tht we want?
Cronies of PM making themselves relevant again!
Nope. Not with mine
Din u ride horsies with Vince?
Today Malaysians are so happy Ron 95 has come down 35 sen. Thank you New Government!!!. Because you are clean and honest, you care for the rakyat and you give us now RM1.91 petrol.
If follow old corrupted Government, today, it will be RM2.80 per litre already!!!!
More fake news. Today petrol still at Rm2.20. Far far away from janji Rm1.50.
Sigh…another U-turn. Manifesto U-turn, policy U-turn, how can the Rakyat have confidence with the government?
PDAM is a bunch of lazy fellows. When petrol go up, these guys make millions in clean profit. Then they keep quiet. Now, when petrol go down, which is not often, they make big noise. Last time, they even asked gomen to subsidise their losses
But most times it went up, they each make tens of million ringgit
We should open the petrol lesen to everybody in Malaysia and not a selected few. This alone shows how lazy and incompetent PDAM is
There is a strict law that only 1 person can get one lesen. But during the previous corrupted regime, many Bumipeda cronies each got about 10 stations. Yes, you read that right. There are many kronies from the previous corrupted regime who have about 10 stations each.
And these guys made tens of millions of ringgit each whenever price of petrol went up. At that time, they never gave Government back a single sen for the UNTUNG they made when petrol went up
So shameful, now just one time price going down, they threaten the country
This is another lazy comment. No research and only accuse with ur mother standard logic. Pityful. Do research before commenting! PT also should stop approving this kind of comments.
Thats y term created by some 1 **Malaysia boleh**
PDAM is the same type like John, all lazy and want easy money. Don’t want to work hard. Give them contracts also they sell the contracts just for a quick buck
Previous administration this protest wont happen
PDAM opposed the reduction petrol price, PH u-turn their decision. If next time petrol price hike, can rakyat oppose their decision and make them u-turn
Thank you & Well done our sensible FM and PH,
2018 absolutely amazing year for Malaysia.
Got a spanking new Civic TCP during tax holiday, and 10 saman AES written off!! pheww
Happy new year 2019 PT team!
And to all fellow PT fans out there!!
You r no different from ptptn borrow ers who default n still act gung ho.shame on u.yr children will grow up like u.
what can i say.. there’s more to this issue than just price reduction. there’s the float issue (specifically frequency of price change i.e. weekly or every fortnight or monthly), there’s the price drop itself- all dealers would want a gradual decrease to mitigate the losses instead of a drastic overnight drop. and than there’s the commission that has remained static for the last two decades or so, when other costs have not. so several stuff to iron out. hoping for a win-win for everyone- lower fuel prices for the people, less subsidy burden for the G and a revision of the commission (finaly).
also would like to shout out to the people at PT- thank you for providing all of us loyal fans with the best news about anything with wheels and an engine – thank you so much from the bottom of my heart.
to all car and bike lovers, gear-heads, petrol-heads, nut behind the wheels, friends and foes and to the good people at PaulTan.org – HAPPY NEW YEAR!
(skirmishes will resume after midnight ;p )
Thank you PT for giving us the best news in bikes and also in cars. I would like to take this opportunity to sincerely thank everyone in your team for all the hard work to give us balanced news.
We are your loyal fans of this site and we truly appreciate the hardwork you put in. Happy New Year to Paul Tan and team
You guys are the best!!
PT has achieved amazing milestones in MY auto journalism without any bantuan dan tongkat. Unlike other struggling newspaper group, to a brighter and sukses 2019 PT!
Agreed, PT always provides the real beneficial news.
Happy new year 2019! We will prosper in a new era
Syukur…….Hidop PH
Bila naik dipersalahkan kerajaan. Bila turun kenapa tak puji kerajaan? Kangkung dulu naik sekarang ni dah turun. Ada yang dah turun.
Dulu telur naik sekarang dah turun tak naik naik.. Asyik kencing saja.. Bila nak naik? Pujilah telur sendiri..
Shouldn’t be too difficult to consult the relevant parties prior to making announcements right?
Making statements, then pulling it back makes the government look indecisive.
At least the government is not stealing our money and calls it a donation
Ye le tu.
.
At least the gov not stealing money.
Sure ….
At least u know they stole frm the coffer. Now is worse cuz they take frm under ur nose via illegal fuel tax n everyone just accept it willingly. Like pukau u know.
We don’t know yet if they are stealing our money. Maybe that fellow who bought the bungalow with no swimming pool under market, might know.
Why steal anyway when Malaysians are stupid enough to give their money via tabung harapan?
Yeah, really makes them look bad
Should just go ahead dont listen to rakyats coz many are more concern with u turns than listening to rakyats
Rakyat wants RM1.50/l petrol. How hard is that to understand?
mana ada lost.. menipu tak habis2 lah diorang ni.. kan ada price protection from major oil for retailers.. kenapa tak bagitau untung berapa banyak since harga minyak is pegged? kerajaan pun tak payah dok layan sangat geng2 ni.. harga minyak naik turun.. dah namanya bisnes, mesti ada untung dan rugi.. kalau buat bisnes yang confirm takkan rugi.. baik major oil bagi anak-beranak depa jer..
Kan kan kan…sigh
Lost? Loss instead?
Lolz! U turn again. PH style never think b4 make policy then uturn on that policy. Going round and round back to square one.
The new clean government has to eradicate 60 years of corruption. That is why they can’t deliver their promises now.
The previous corrupted regime increased our debts and songlap the rakyat’s money. Worse still, they call it a donation!
No wonder our neighbours are laughing at us
If previous government can give us Rm1.60 petrol even with the alleged corruption, then it makes them much more competent than alleged clean PH government. In that case, please bring back the previous government. At least they have the rakyat in their hearts and minds and not just their pockets like PH is doing.
This new government is quickly revealing its true colour which is worse than previous government. They are acting like heroes of rakyat, give many false promises and keep lying to rakyat who voted them into power. Say got no money to deliver on their promises got got billions to throw into new national car project. Somemore got the cheek to say no rakyat money will be spent on this project, just look at how many hours government staff are being forced to work on this project to date and now large sum of rakyat money has been approved for the car R&D. They already lied in the first place and now still trying to deny this as public fund to the project as another attempt to lie to rakyat once again in broad daylight. How can they treat rakyat like we are so stupid as if we cannot look past through their twist of words? Keep shouting that our country has trillion ringgit of debt, cut budget and subsidy left, right, center, and yet has money for 3rd national car which has 50-50 chance of failing. If this R&D grant goes through and get to whoever the crony chosen, I’m sure rakyat cannot wait to vote these liars politicians and fake heroes out from the ruling power. Very very disappointed in this new government.
Ek eh….siapa ke’raja’an sebenarnya?
Dalam kerajaan kini, wang adalah RAJA.
Well, they did say MONEY IS KING.
This is ridiculous. As if this hasn’t been discussed numerous times aforehand. So the rakyat comes last after politicians and businesses.
Spot on bro..
Ala, u-turn lagi!!
Janganlah bikin rakyat marah!
Consider both gas stations operators and consumers and other stakeholders. PDAM should be given liberty to purchase oil and managing their stock according to their business strategies.
for once i can agree. ALL dealers should have that liberty.
That what happen when u choose U-TuN gomen. Next time, choose roundabout gomen instead.
This problem wouldn’t have happened had they consulted all stakeholders. Now, u-turn on the last lap. That really speaks a lot about their ability to govern.
When gov makes u-turn every time, it’s hard for businesses to make projection.
He..he… Not easy to manage all stakeholders….Fuel seller also the citizen of the country and they are also the Rakyat…..Now which rakyat is trully the rakyat that need attention ? That, supposedly be the question when rakyat give the power to rule and decide….Welcome to the reality of democracy…
On the table they argue whose fault
Under the table they shake hands
Do not think it is a U-turn decision in fact I think it is wise impromptu avenue not a channel created to listen to the other side, imagine if most PS close down where to get petrol unless prefer “my way or highway” style without any regard to consequences
Lodge a police report la
If not padai U- turn how msia binister have good luxury life…
If the current petrol station owner unable to take the heat of free mkt, then just give up the petrol station licence. I am sure if the gov lelong their licence, a lot willing buyer to take their place without complaint.
This is hallmark of clueless, useless and indecisive governance. Announce first, meeting later, u turn, meeting again, decision later. WTF.
During the previous administration, they floated the price even though PDAM moan & complain to kingdom come. Which is why we managed to enjoy fuel as low as RM 1.60 per litre back then.
Nowadays, the new government is so weak, a simple threat can cause them to U-turn and inconvenience millions of Malaysians for the sake of a few petrol station owners.
Still got people want to defend this crap?
Rakyat kena tipu lagi!!!
I really don’t understand, why you cant float and decrease the price slightly? it’s better ..if later in june, the crude oil price still around USD40-45, you still have to decrease the price
why all the negativity … just wait a few more days after the cabinet meeting .. not like the sky will fall down if no price reduction today