Weekly fuel price effective next Wednesday

PETALING JAYA: The new weekly fuel prices, which aims to avoid significant changes in prices under the current monthly determination system, will come into effect beginning March 29.
The Minister of Domestic Trade, Cooperatives and Consumerism (KPDNKK) Datuk Seri Hamzah Zainuddin said the announcement would be made every Wednesday, with the implementation to take place at midnight the following day.
He said petrol companies and petrol station operators that wish to offer promotion and discount from the price announced by the government can do so by obtaining prior approval from KPDNKK.
"All companies and operators are reminded to obey this new price determination, and stern action will be taken against those who sell petrol and diesel other than the price fixed by the government," he said in a live telecast on TV1 at Angkasapuri today.
Hamzah, explaining that the monthly announcement made presently sometimes causes unease among consumers, said the decision was made after having discussions with petrol companies, station operators and other stakeholders.
"The result of this discussion was brought up to the Cabinet and was approved on Feb 22," he said.