The Ministry of Domestic Trade, Cooperatives and Consumerism is currently working on a better method to announce the petrol price mechanism.

Datuk Seri Hamzah Zainuddin stated that the ministry is in talks with the Ministry of Finance and petrol kiosk operators to come up with a win-win implementation that will benefit both parties.

Petrol Prices
Source: Malaysiakini

The declining price of oil in recent weeks have put them (petrol kiosk operators) under pressure. I have been talking with Second Finance Minister Johari Abdul Ghani and the operators. God willing, by next week, we will have something for everyone. We will ensure that the method will help the people and at the same time shows that the industry can be liberalised,” said Hamzah Zainuddin.

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Although he did not go into detail on how the mechanics would come about, he shared that “maybe in future, we can do it (petrol price fixing) on a daily basis”. This comes after many petrol station operators have complained about the recent drop in petrol prices.

Petrol Prices

Since 29th March, new petrol and diesel prices are announced every Wednesdays and take effect after midnight.

UPDATE:

Bad news peeps! Starting tomorrow (Thursday, 6th June), petrol (RON95 and RON97) and diesel prices will go up by 4 sen and 7 sen respectively.

Source: TV1 via The Star

RON95 will be priced at RM1.93 per litre (up from RM1.89) and RON97 at RM2.19 per litre (up from RM2.15), while price for diesel has also been adjusted to RM1.91 per litre (up from RM1.84).

Sources: Bernama, Paul Tan, The Star / Featured image: MalaysiaKini.

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