No early announcement on fuel price changes to prevent manipulation - Hamzah

The government has decided not to give the public prior notice on fuel price changes to prevent petrol pump operators from controlling the sale of fuel to consumers.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Hamzah Zainuddin said the notice would only be issued to the Petroleum Dealers Association of Malaysia at midnight on the last day of every month.

He said the government had implemented the Managed Float system to determine the price of RON95, RON97 petrol and diesel from Dec 1 last year.

"Alhamdulillah (All praise be to Allah), few months of its implementation, the mechanism has been well-recieved by all parties. It is not easy to adjust fuel prices. We have to take into account the interest of traders and consumers," he told reporters after officiating the Larut Fiesta at the Padang Majlis Daerah Selama here today.

On Oct 1, the retail prices of RON95, RON97 and diesel went up by 10 sen to RM2.05, RM2.45 and RM1.90 a litre.