KUALA LUMPUR,
From today Malaysians will see fuel prices on oil pumps set weekly,
not every month as implemented since December 2014.
For consumers, this means that the retail price of fuel in the
pump will remain the same or change every Thursday.
The weekly pricing method is said to be necessary to improve the
implementation of previously controlled float on a special occasion as world
oil prices change daily.
Deputy President of the Federation of Malaysian Consumer
Association (Fomca), Mohd. Yusof Abdul Rahman said in this way any
increase or decrease in prices would occur in a low range of between 5-10 sen
per month on a monthly basis that would cause price changes at a range of 10-20
sen.
He added that the government's dependence on world oil prices in
determining local fuel prices was offset would be a bigger burden on the people
if the prices continue to rise.
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