No objection to weekly fuel pricing

PUTRAJAYA: The plan to announce the price of fuel on a weekly basis beginning in April has received the thumbs up from the Petroleum Dealers Association of Malaysia (PDAM).
Minister of Domestic Trade, Cooperatives and Consumerism Datuk Seri Hamzah Zainuddin said the agreement was reached following a meeting between the ministry and the association on Tuesday.
"They have agreed with what we are planning to do," he told a press conference after officiating at a small and medium enterprise Citarasa Malaysia programme today.
Hamzah announced on March 4 that the ceiling fuel price would be announced on a weekly basis beginning April, instead of monthly as done currently, and that dealers will have the prerogative to reduce their prices to woo customers.
The move allows petrol dealers to determine their fuel prices and offer the best deals to consumers.
PDAM president Datuk Khairul Annuar Abdul Aziz had previously said the move to introduce a ceiling price was inappropriate as it would result in un-standardised fuel prices, leading to unhealthy price wars among dealers.
"It was a misunderstanding of what they are supposed to do. I think that's been resolved after the meeting," Hamzah explained.
He also chaired another meeting today with oil companies and said the mechanism of the new fuel pricing would be revealed to the public soon.
Meanwhile, on the selling of animal bristle paint brushes, Hamzah said the ministry would start taking action against traders who fail to properly label those products beginning today after a one-month notice was given.