KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) will fully support the government’s decision on the new method of fixing the fuel ceiling price in the event of a revision is made to the existing mechanism.
Petronas Dagangan Bhd managing director and chief executive officer Datuk Mohd Ibrahimnuddin Mohd Yunus said so far, no new information on changes in the petrol price mechanism was introduced by the government.
“We’ll wait if there is any new approach to the fuel ceiling pricing,” he told reporters at an Aidilfitri open house hosted by Petronas here yesterday.
Former Prime Minister Tun Abdullah Ahmad Badawi, Petronas chairman Tan Sri Mohd Sidek Hassan, Petronas president and CEO Datuk Wan Zulkiflee Wan Ariffin, and CIMB Group Holdings CEO Datuk Seri Nazir Razak were present.
Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainuddin had said that the current weekly retail fuel price arrangement would remain, while the government looked for a better way of setting the retail price.
Whatever arrangement is reached must satisfy consumers and petrol station operators, he said, adding that the ministry had been engaging with the Finance Ministry, as well as stakeholders in the industry in finding the correct formula to determine petrol prices. — Bernama