The Petrol Dealers Association of Malaysia (PDAM) says it is expecting petrol dealers to be hit as a result of fuel prices possibly dropping by more than 10 sen in the coming March 7-13 week, The Star reports.

While the cheaper fuel is welcomed by the public, petrol dealers would have sell fuel at a loss, according to PDAM president Datuk Khairul Annuar Abdul Aziz. He said the association wants to hold discussions with the industry to limit significant price jumps to avoid dealers suffering losses.

“We were hit badly when diesel prices fell by 10 sen two revisions back. For March 6, we anticipate more than a 10 sen drop for all products,” he told the publication.

Khairul Annuar said the previous government administration wanted to limit the price increase quantum in the weekly price update to one to two sen to avoid inflation, but this policy was now in limbo with the new government. He urged prime minister Tan Sri Muhyiddin Yassin to either maintain the current pump prices or for price changes to be limited to two sen until a suitable mechanism that benefited all parties is put in place.

He said during the previous administration, there had been discussions for fuel prices to be set monthly and any price changes to limited to one to two sen, and a ceiling and floor price for stable fuel prices were also under consideration.

The current price of RON 97 petrol is RM2.40 per litre, while RON 95 is at its capped price of RM2.08 per litre. Euro 2M diesel is priced at RM2.13 per litre, and Euro 5 diesel, which costs 10 sen more, is priced at RM2.23 per litre.