Petrol ceiling price set by govt good for consumers: MyCC

KUALA LUMPUR: The government's move to create a ceiling price for petrol is a commendable step in competitive market that would benefit the people, according to the Malaysian Competition Commission (MyCC).
MyCC commissioner, Datuk Gan Khuan Poh said by setting a ceiling price on petrol, retailers could set their price lower and compete.
"We are doing it weekly while in the United States (US), it is being done daily," he said.
In this way, he said, consumers were more protected and could have access to a range of choices.
Domestic Trade, Cooperative and Consumerism Minister Datuk Seri Hamzah Zainuddin had previously said that the ceiling price of fuel would be announced weekly beginning next month.
The ministry had also advised petrol station operators to work with the Malaysian Petroleum Dealers Association to implement the concept to help avoid confusion among consumers. — Bernama