Fuel prices to be influenced by Syrian conflict: Hamzah


KUALA LUMPUR: Malaysians can expect an increase in petrol and diesel prices in line with the recent development in Syria, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Hamzah Zainuddin.

He said if the global oil prices were affected by the recent air strike in Syria, the country's fuel prices would also be influenced by it.

"I do not want to speculate. But, the public must be aware that in our country now, the retail prices for fuel are dependent on global fuel prices and the Automatic Pricing Mechanism (APM) as announced recently by the government.

"We do not simply increase the fuel prices without any reason or basis, it all depends on the global price," he said, after the Malaysian Cooperative Commission (SKM) 2016 Excellence Award Ceremony today.

Currently, the RON95 is priced at RM2.16 per litre, RON97 at RM2.43 and diesel at RM2.08 for Apr 6 to 12.

Meanwhile, Hamzah said as of today, no companies have applied to conduct a fuel promotion or discount to the consumers.

"We have yet to receive any application. If they wish to give fuel promotion or discount at their petrol stations, they must reveal it to the ministry.

"They have to inform us on the volume and quantity involved.

"Secondly, we also want to know duration of the promotion and the type of fuel involved, be it RON95, RON97 or diesel.

"By letting us (the ministry) know about their promotion, consumers will not feel cheated when they go to fill up at the petrol station."