Petrol stations encouraged to sell fuel below govt-stipulated prices


Yup, I can see this happening soon.

Dateline 2019-11-12, The Star:

Petroleum products can be sold below government-stipulated prices if petroleum companies want to compete among each other, says Datuk Seri Saifuddin Nasution Ismail.

The Domestic Trade, Consumer Affairs Minister said all 3,500 petrol stations from the six main industry players are currently selling petroleum products according to the Automatic Pricing Mechanism (APM) which is RM2.08 per litre for RON95 petrol.

If the six petroleum companies practise the principle of competition through innovation and efficiency apart from focusing on the business based on petroleum, they could reduce the retail price of petroleum products,” he said.

“If it is implemented we can see petrol stations selling at different prices. For instance, if Shell is selling at RM2.06, Petron RM2.07, then go to BHP which is retailing at RM2.04,” he told reporters after attending a Symposium on Fair Competition and Cost of Living here Tuesday (Nov 12).

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