Fuel price promotions: Apply early to the ministry, Hamzah Zainuddin advises

Petrol companies and station operators wanting to carry out promotions by giving discounts on the stipulated ceiling price of fuel are required to submit their applications early to the Domestic Trade, Cooperatives and Consumerism Ministry for approval.

Its minister, Datuk Seri Hamzah Zainuddin, said the requirement was for the interest of consumers to avoid surprising consumers following the weekly fixing of petrol and diesel price which would come into effect this Wednesday.

"If they (petrol companies and station operators) want to carry out promotions, they certainly must have the plans. Therefore, they must come to us and inform us. If they do that, we can give approval at any time.

"Once approved, we inform the public that certain companies on certain date or period are having promotions. We must make sure there is no surprise for consumer," he told reporters when met after attending the ministry's Family Day here today.

However, he did not give the time frame for the oil companies and petrol station operators to submit their application to hold the promotion.

Last Wednesday, Hamzah said that the weekly fixing of petrol and diesel price would take effect this Wednesday, with the prices to be announced every Wednesday and would take effect after midnight.

He said stern action would be taken against petrol companies and station operators which sell petrol and diesel at prices apart from government fixed prices.

On the Consumer Price Index (CPI), which is used to gauge inflation, Hamzah said it increased by 4.5 per cent to 119.7 in February this year, adding that the ministry would continue to work with the relevant ministries agencies to ensure adequate supply of goods.

"We will ensure the agencies look for suppliers to ensure there is enough supply of goods, especially during festivals. Thus, the price of goods will be more stable," he added.

-- BERNAMA