Dateline 2017-06-30, Sinchew:
Following the introduction of weekly ceiling fuel pricing mechanism, coupled with the continuously falling retail prices — the fifth straight fall this week — many petrol dealers in the country are suffering losses, and they hope the government will do something to help them out of the current doldrums.
There are a total of 3,500 gas stations in the country, but since the government abolished fuel subsidies and implemented the weekly floating pricing policy, many of them begin to encounter difficulty in sustaining their businesses.
From what we know, since the monthly ceiling fuel pricing mechanism was introduced in 2014, some 30 to 40 petrol stations have wound up their businesses. With the implementation of weekly pricing, more are expected to go under. Some 80 petrol stations have already closed down during the last two years and the dealers are worried more will do so if fuel prices keep dropping.
Among the reasons for the closures are minimum wage scheme, rising energy cost, 1% credit card fee, low commissions and falling oil prices.