Petrol prices may be further liberalised - Hamzah

Petrol price might be further liberalised in the future, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainuddin.

"An application will be developed when the time comes to show consumers the price of petrol at different stations.

"Currently, many petrol stations have started to display the price of petrol per litre that changes every week. That is commendable for all of them to do at the moment," said Hamzah during the ministry's Aidilfiri open house, here, today.

The application that is to be developed will help oil companies, petrol stations and the end consumers to interact which each other to find reasonable prices for petrol in the country.

Currently, the government announces weekly petrol and diesel prices every Wednesday which will take effect after midnight and the mechanism allows consumers to enjoy a more stable fuel retail price compared to monthly pricing.

Hamzah also said that the ministry would hold talks again by next week with petrol dealers before coming to a conclusion on a new petrol price mechanism.

-- BERNAMA