A new formula for fixing retail prices of fuels will be announced next week, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainuddin.
He said the move was being taken to ensure stability of the domestic oil industry and that the ministry would be holding a meeting with oil industry players next week to discuss the formula in the interest of all parties.
"The people must sympathise with petrol station operators who suffer losses when oil prices drop, They (petrol station operators) feel they are the victims (when prices drop)," he told reporters after attending a Ramadan function here today.
He added that he would also be asking the government to assist petrol station operators as they have been badly affected by the uncertainty in oil prices.
The retail prices of petrol and diesel have been on a downward trend lately. Since April 1, the retail price of RON95, RON 97 and diesel are set on a weekly basis.
Before that, it was on a monthly basis based on the managed float system.
-- BERNAMA
Reuters
Fri Jun 16 2017
The retail prices of petrol and diesel have been on a downward trend lately. - Filepic / REUTERS
UMT bakal miliki rumah alumni bernilai RM2.2 juta
Universiti Malaysia Terengganu (UMT) merancang memiliki rumah alumni sebagai pusat sehenti, bagi memperkukuh jaringan kerjasama dengan bekas pelajar, industri dan universiti.
Piala Thomas: Pengalaman Aaron Chia-Soh Wooi Yik gagal ditandingi beregu Hong Kong
Hanya 26 minit sahaja diperlukan bekas juara dunia, Aaron Chia-Soh Wooi Yik untuk memastikan Malaysia meraih mata kedua dalam saingan Piala Thomas pagi tadi.
Piala Thomas: Lee Zii Jia beri mata pertama buat Malaysia!
Pemain perseorangan profesional negara, Lee Zii Jia berjaya meraih kemenangan ke atas Lee Cheuk Yiu 21-18, 21-18 dalam perlawanan Kumpulan D pagi tadi.
Filem Oppa beri kesedaran jenayah love scam
Filem kesedaran mengenai jenayah LOVE scam bertajuk 'Oppa' bakal menemui anda pada 9 May ini dengan membawa mesej tentang penipuan dalam talian yang seringkali menyasarkan golongan wanita.
[INFOGRAFIK] Calon Perpaduan | N.06 Kuala Kubu Baharu
Apa yang perlu anda tahu tentang calon Perpaduan bagi PRK N.06 Kuala Kubu Baharu.
[INFOGRAFIK] Calon Perikatan Nasional | N.06 Kuala Kubu Baharu
Apa yang perlu anda tahu tentang calon Perikatan Nasional bagi PRK N.06 Kuala Kubu Baharu.
Pertandingan empat penjuru N.06 Kuala Kubu Baharu
Untuk perkembangan lanjut berkaitan Pilihan Raya Kecil Kuala Kubu Baharu kita bersama rakan setugas, Firdaus Azil.
PRK Kuala Kubu Baharu saksikan pertandingan empat penjuru
Perkara itu disahkan oleh Pegawai Pengurus bagi PRK tersebut, Yuhanas Auree Kamaruddin di Pusat Penamaan Calon PRK Kuala Kubu Bharu, Dewan Serbaguna dan Kompleks Sukan Daerah Hulu Selangor kira-kira jam 10.38 pagi, pada Sabtu.
KKR, CIDB zahir hasrat hantar pekerja ke Nagasaki teroka kemahiran TVET
KKR menerusi agensinya Lembaga Pembangunan Industri Pembinaan Malaysia (CIDB) berhasrat memulakan penghantaran pekerja ke Nagasaki, Jepun menjelang suku keempat tahun ini.
Piala Thomas: Leong Jun Hao lakar kebangkitan, pastikan kemenangan Malaysia!
Leong Jun Hao melakar kebangkitan memastikan Malaysia memperoleh kemenangan ke atas wakil Hong Kong, Angus Ng Ka Long.