No cabinet decision yet on fuel price, says source

The cabinet has not made any decision on pump prices at its weekly meeting chaired by the Prime Minister Dr Mahathir Mohamad yesterday.

"No decision was made yesterday," a highly placed source who spoke on the condition of anonymity told Malaysiakini.

The news portal has attempted to contact Finance Minister Lim Guan Eng for comment.

On Dec 23, 2018, Lim announced that petrol and diesel prices would be subject to a weekly managed float beginning this year.

However, Petroleum Dealers Association of Malaysia (PDAM) raised concern over the restoration of the weekly float system.

PDAM president Khairul Annuar Abdul Aziz was reportedly saying dealers had suffered from previous changes in the petrol pricing mechanism.

He said the retailers had lost a total RM61 million and RM30 million when the government implemented monthly and weekly float of fuel prices respectively.

Mahathir had met PDAM representatives before chairing the cabinet meeting yesterday. - Mkini