PUTRAJAYA: With domestic petrol prices continuing a downward trend this week, Domestic Trade, Cooperatives and Consumerism Ministry will meet petrol companies and dealers to address the negative impact on the industry.
"Consumers are happy. But petrol companies and dealers are complaining about how the sliding petrol prices are affecting their business," Its Minister Datuk Seri Hamzah Zainuddin told reporters after breaking fast with his ministry's officials here tonight.
Their main concern, according to Hamzah, is how they had to sell the previous stock of petrol bought at a higher price for the current lower price margin.
"We will continue to engage the petrol companies and dealers to resolve their issues amicably," he said.
However, he declined to comment on his recent meeting with Shell, saying that the issue with their reportedly price mechanism slip-up has been resolved.
Fuel prices are set to go down across the board come midnight tonight.
RON 95 petrol, previously priced at RM2.10 per litre, will go down by five sen to RM2.05 per litre. RON 97, previously retailing at RM2.38 per litre, will see a reduction of seven sen to RM2.31 per litre.
Diesel will also see a reduction in prices, from RM2.02 a litre to RM1.94 per litre.
The new fuel prices will come into effect from tomorrow to June 14. The weekly price mechanism is based on global oil market prices.