Govt expected to reduce petrol price by 15 sen a litre Saturday
Posted By Saimatkong on Oct 31, 2008 | 0 comments
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Yes PETROL PRICE GONNA REDUCE AGAIN, I have been waiting for this and my fuel tank was empty this few days and just pump 30 bucks to keep my car moving… ahah kiasuness…
PETALING JAYA: Petrol prices are expected to be cut by 15 sen a litre at 12.01am tomorrow – the fourth reduction since August.
This means the RON97 will cost RM2.15 a litre, down from RM2.30, and the price of RON92 is also expected to go down.
Petrol Dealers Association of Malaysia (PDAM) president Abdul Wahid Bidin said they expected the new prices to take effect early tomorrow although they have not received a directive from the Finance Ministry.
A dealer who declined to be named said Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad had met with PDAM representatives on Wednesday.
He said Shahrir gave them notice that prices were going down.
“This is good because it has given us the three days we need to figure out how much stock we should keep to avoid big losses,” he said.
It is also understood that another price change is expected on Nov 15.
When asked at a function here yesterday, Shahrir refused to confirm or deny that prices would be reduced tomorrow.
“A reduction is imminent of course. We cannot deny consumers the opportunity that has arisen from lower global oil prices,” he said.
Shahrir, however, said that any directive would come from the Treasury and that any agreement on reducing prices would be discussed by the Prime Minister, Deputy Prime Minister, Second Finance Minister and himself.
“So it is difficult for all of us to meet at one time. There is, however, a Cabinet meeting (today), so it will probably be discussed then.”
Shahrir said that the Government would also be moving to make price changes every fortnight.
“This would be an ideal situation. If the price is changed once a week, it will be too short a time for any effects to be felt.”
He said petrol dealers had to realise that they were in a business and that other businesses also suffered when prices changed.
Source : TheStar
