Johari: Govt considering ceiling price for fuel

Dateline 2017-02-09, Bernama:

The setting of a ceiling price is one of the options the government is considering to tackle escalating fuel prices.

Second Finance Minister Johari Abdul Ghani said in certain advanced countries, the governments leave fuel prices to float, and the oil and gas (O&G) industry players determine them.

“It is up to the government to set a ceiling price which is deemed fair for all.

“When we, the government have decided on the ceiling price, whether the O&G industry players want to sell the fuel at lower prices for promotional purposes would be left to them. This is one of the options we are looking at.”

Johari told reporters this on the sidelines of the Chinese New Year Celebration 2017 hosted by the Malaysia Retail Chain Association here last night.

He said the government had also to be mindful whether the policy would be a problem for those living outside the city.

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