We only produce the oil, Putrajaya sets price, says Petronas chairman

Dateline 2015-07-02, TMI:

Petronas denies controlling the price of petrol in the country, saying the government is the only party responsible.

Speaking to media at a corporate social responsibility (CSR) event in Kuching last night, Petronas chairman Tan Sri Sidek Hassan said Putrajaya determines the price for RON95 and RON97 from the market price for crude oil, the Borneo Post reported.

“It has been agreed that petrol pump prices is based on the government’s decision, and is tagged to the market. So when the market moves up then it will go up and vice versa.

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