Petrol dealers still in dire need of govt aid

September 17, 2020

Dateline 2020-08-03, Malaysian Reserve:

WHILE the demand for fuel at petrol stations is slowly recovering, operators are still running their businesses at a slight loss due to the fluctuation in oil prices.

However, Petrol Dealers Association of Malaysia (PDAM) president Datuk Khairul Annuar Abdul Aziz said the “damage” is not as severe as how it was during the earlier phases of the Movement Control Order (MCO).

“Quite a number of stations are up for sale as they could not sustain operations and cover the losses during the MCO.

Petrol dealers fear dry pumps when MCO ends

May 20, 2020

Dateline 2020-04-18, FMT:

The country’s largest organisation of petrol station owners has warned of the likelihood of pumps running dry after the movement control order (MCO) expires unless the government temporarily stops the practice of setting weekly prices.

Many of the station owners would not have the funds to buy enough petrol and diesel to cater to the expected increase in demand, Petrol Dealers Association Malaysia (PDAM) president Khairul Annuar Abdul Aziz told FMT.

He said the drop in fuel prices and a 70% reduction in sales since the MCO had badly affected petrol dealers.

Govt may consider floor price for petrol

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.

What happens to petrol stations when oil prices go down

August 20, 2017

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.

Petroleum Dealers Ask Gov’t To Release Fuel Prices In Advance To Association

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.