PUTRAJAYA: Petroleum products can be retailed below the government stipulated prices as competition among petroleum companies, said Domestic Trade, Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.
According to him, all 3,500 petrol stations of the six main industry players are at the moment selling petroleum products according to the automatic pricing mechanism (APM) which is RM2.08 per litre for RON95 petrol.
If the six petroleum companies practise the principle of competition through innovation and efficiency apart from focusing on the business based on petroleum, they could reduce the retail price of petroleum products,” he said.
“If it is implemented, we can see petrol stations selling at different prices. For instance, if Shell is selling at RM2.06, Petron RM2.07, then go to BHP which is retailing at RM2.04,” he told reporters after attending a Symposium on Fair Competition and Cost of Living here
yesterday.
Saifuddin Nasution said petrol station operators can implement it if it generates a larger volume of sales every day. – Bernama
