The current weekly fuel pricing system is the best

The current weekly petrol and diesel pricing according to a managed float system is the best method, despite the suggestion of a daily fuel pricing, said Sabah Assistant Finance Minister, Datuk Ramlee Marahaban.

He said people still enjoyed benefits through the current weekly fuel price mechanism because the fuel prices were still reasonable and under control.

"According to the current float method where the world oil prices are very practical, if the oil prices fall so our oil prices will also fall. This will give relief to the consumers especially those who are less fortunate," he said at Sangom Pangentoman programme in conjunction with the Semporna-level Teacher's Day celebration, here on Saturday.

The Bugaya state assemblyman said the government was studying another method which could benefit the people, including considering the setting of prices on a daily basis.

"The government will choose which is the best (weekly or daily) and our (government) experts are studying the effectiveness of the new method. We (will) consider all aspects to ease the people's burden," he said.

Recently Minister of Domestic Trade, Cooperatives and Consumerism Datuk Seri Hamzah Zainuddin did not rule out the possibility of introducing a new formula for petrol and diesel pricing mechanism on a daily basis - BERNAMA