BACKING FOR NEW MECHANISM
PetDag says will also consider offering petrol discount after gauging market response
PETRONAS Dagangan Bhd (PetDag) will gauge market response to the new fuel ceiling price mechanism before seeking government approval to offer petrol at a discount.
The new mechanism, in which petrol and diesel prices will be announced weekly instead of monthly, begins today.
PetDag managing director and chief executive officer Mohd Ibrahimnuddin Mohd Yunus said the Domestic Trade, Cooperatives and Consumerism Ministry had requested dealers to seek the ministry’s approval before offering fuel at discounted prices.
“We have not decided on anything yet because it is still at a very early stage,” he said at the launch of Kad Mesra Grab, a loyalty programme by PetDag and Grab Malaysia, here, yesterday.
The ministry had earlier said the weekly petrol and diesel prices would be announced every Wednesday, and the prices would come into effect after midnight.
Ibrahimnuddin said PetDag fully supported the mechanism.
“When prices are fixed on a weekly basis, it will be more reflective of the market. Hopefully, the pricing will not fluctuate much from week to week.”
Meanwhile, the collaboration between PetDag and Grab will allow Grab drivers to enjoy fuel savings and reward points for purchases at Petronas stations.
Grab Malaysia country head Sean Goh (second from left) exchanging documents with Petronas Dagangan Bhd (PetDag) head of retail business Aadrin Azly at a signing ceremony in Kuala Lumpur yesterday. With them are PetDag managing director and chief executive officer Mohd Ibrahimnuddin Mohd Yunus (right) and Grab Group head of business development Reuben Lai.