Dateline 2017-07-13, FMT:
Petrol businesses operate at a loss whenever oil prices go down, with some of them forced to shut down as they are unable to cope with the fluctuating prices every week.
The Petrol Dealers Association of Malaysia (PDAM) said since the implementation of the monthly fuel pricing mechanism in December 2014, petrol station operators have found it difficult to finish off their oil stocks.
PDAM president Khairul Annuar said since 2014, between 30 and 40 petrol stations had been forced to cease operations due to their inability to cope with the losses.
“And now there’s a new weekly pricing mechanism. As a result, petrol station operators are feeling the pinch really badly,” he told FMT.