KUALA LUMPUR: The implementation of a daily fuel pricing policy is unlikely to start this year, says Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainuddin (pic). Hamzah was recently quoted as saying that the ministry would come out with a new formula soon for the petrol price mechanism, which would allow liberalisation of the industry. Hamzah also said he would meet with petrol station dealers next week before making any announcement on any new pricing mechanism. The weekly fuel pricing mechanism came into effect from April this year. The prices of petrol and diesel had been placed on a managed monthly float system since Dec 1, 2014, following the removal of fuel subsidies.

Source: The Star July 05, 2017 10:30 UTC