May 17, 2020
Do any kiosks actually close every time BUMIPEDA threaten to do it?
Dateline 2020-04-17, Malaysian Reserve:
PETROL pump operators are looking to halve the number of stations that are open during the Movement Control Order (MCO) to cut losses as motorists stay home going into the fifth week of travel restrictions.
Petrol pumps are considered essential services and must remain open under instructions from the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP), but dealers are asking that some locations be allowed to stop business until the MCO is revoked because there is no demand at the moment.
Bumiputera Petrol Dealers Association of Malaysia (Bumipeda) president Datuk Abu Samah Bachik said the public can be serviced even if half the number of stations are allowed to shut during the MCO.
Even with the drop in oil prices, the demand for fuel has dried up as only essential travel is allowed since March 18 and will be enforced at least until April 28. Globally, the benchmark Brent crude dropped 5% on Wednesday to US$28 (RM121.80) a barrel, as demand drops to a 25-year low.
May 10, 2020
Out of curiosity, did any stations shutdown the last time PDAM made a statement?
Dateline 2020-03-26, FMT:
The country’s main association for petrol dealers says it fears the bulk of some 3,800 stations nationwide will have to suspend operations due to financial issues related to the “double whammy” of consecutive drops in fuel prices and the loss of traffic due to the government’s movement control order (MCO).
Petrol Dealers Association Malaysia president Khairul Annuar Abdul Aziz told FMT the sale of fuel products is down by 70%.
On average, he said, a station needs a working capital of RM150,000 to RM200,00 a month to buy fuel.
Operating costs, including utilities and staff wages, are around RM30,000 to RM70,000 depending on the size of the station.
April 29, 2020
Dateline 2020-03-13, Malaysian Reserve:
THE government may consider setting a floor price for petrol and diesel amid declining oil prices, said Domestic Trade and Consumer Affairs Minister Datuk Alexander Nanta Linggi (picture; centre).
“We will have to listen to all parties and brainstorm the idea. If it is good, we will bring this up to the Cabinet,” he told reporters after clocking in on the first day of work at his ministry in Putrajaya together with his deputy Datuk Rosol Wahid.
This came after Petrol Dealers Association of Malaysia (PDAM) suggested a floor price to be introduced for both petrol and diesel which in turn would protect dealers, consumers and the government.
September 9, 2019
C’mon, use more fuel.
Dateline 2019-07-22, Paultan.org:
Have you ever wondered how many litres of petrol you can buy with an average Malaysian salary? Well, good news, because Picodi Analysis has prepared a report that considers the average monthly salaries and petrol prices in 17 countries in the Asia-Oceania region, with the addition of Hong Kong (Brunei is left out here).
According to the report, Malaysia has the cheapest petrol in the region, where on average, one litre of petrol costs US$0.49 (RM2.05). Yes, RON 95 has stayed at RM2.08 per litre for several weeks now, but it wasn’t always the case earlier in the year prior to the government’s involvement.
August 4, 2017
Dateline 2017-06-21, Malaysian Digest:
The Petroleum Dealers Association of Malaysia (PDAM) is suggesting for the government to release the retail fuel prices to the association, two days before the weekly fuel prices are announced.
Its president Datuk Khairul Annuar said this is to allow petroleum dealers to bargain for a better price of fuel accordingly with the petroleum producers.
“We got this idea from our Moroccan counterparts during a conference with international petroleum dealers yesterday. We hope we can emulate their method.
“We can accept the system where the retail prices of petroleum and diesel is set every Wednesday. But, we hope we can get the information on the price change two days prior, which is on Monday.
May 2, 2017
Changing colours like a chameleon, much?
Dateline 2017-03-17, MalaysianDigest:
Malaysians are still in the dark about how the new fuel ceiling price will be implemented as the ministry has yet to announce the mechanism for the new system until April comes.
While reactions of several stakeholders towards the announcement has been covered in Malaysian Digest’s feature story, someone within the oil and gas industry shared with us a picture of how it will play out once the system is in place.
Nora, a financial analyst in the oil and gas industry, said that nothing would be particularly different for consumers as they will adapt regardless of what system is implemented.
“I don’t think anyone has that much energy to really monitor the ups and downs every week and how it would translate to cash flow or money availability.
August 20, 2015
Dateline 2015-07-02, Malaysiakini:
Petrol prices at the pump have gone up by 10 sen to RM2.15 per litre for RON95 and 20 sen to RM2.55 for RON97 for the month of July 2015. This is despite the price of Brent crude oil per barrel trending downwards for the month of June 2015 versus May 2015.
However, retail petrol prices have gone up because the price of Brent per barrel is only one component out of several which go into the calculation of the Mean of Platts Singapore (MOPS) benchmark price which is used under Malaysia’s managed float system which came into place on Dec 1, 2014.
From then onwards, retail petrol prices are set based on a month-to-month basis based on an average of MOPS prices plus a fixed margin for oil companies and retailers.