Price Control For RON95 Petrol & Diesel In Malaysia Has Been Revoked
One of the benefits Malaysians looked forward to after the Pakatan Harapan coalition won the 14th general elections was the control of prices for petrol and diesel.
This restricted the maximum retail price of RON95 and diesel regardless of global oil price levels.
Unfortunately, a gazette has announced the revocation of the order on the 3rd of June despite the fact that it had been approved by the Domestic Trade and Consumer Affairs Minister, Datuk Alexander Nanta Linggi in April.
“The Price Control and Anti-Profiteering (Determination of Maximum Retail Price for Petrol and Diesel) (No. 8) Order 2020 [P.U. (A) 64/2020] is revoked,” the gazette stated, as according to the Malay Mail.
The Domestic Trade and Consumer Affairs Ministry rescinded the price control order which restricted RON95 petrol to RM2.08/L and diesel to RM2.14/L.
Apparently, even petrol dealers have been unaware of the revocation.
“We were just made aware,” said a Petrol Dealers Association of Malaysia (PDAM) spokesperson when contacted today by The Malaysian Reserve.
Hence, we’re back to checking for updates on the ever-fluctuating petrol prices just as we used to.
What do you think about this? Let us know in the comment section.
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