Lower petrol prices may be good news for some of us, but may not be the same for petrol dealers, as they claimed that they will have to close down if petrol prices continue to drop.
According to Petrol Dealers Association of Malaysia president Datuk Hashim Othman, petrol dealers have lost between RM20,000 and RM100,000 because of the drop in global oil prices.
“If the drop was only a few sen, we could absorb the losses. But now with the 35 sen drop (for petrol), we’re buying high and selling it low. If this carries on, many of us will have to close down,” he said.
With the drop of 35 sen in RON95, RON97 and diesel, now they retail at RM1.91, RM2.11 and RM1.93 (per litre) respectively.
Petronas Petrol Dealers Association president Datuk Abu Samah Bachik is concerned that stations might be forced to close down if prices continue to drop a few more times. “All dealers in the country are affected, none of us are exempt from this,” he continued.
All dealers are required to keep 3 days worth of petrol and diesel, as these are seen as essential items. Dealers would have their licenses revoked if their supplies ran out.
Meanwhile, Domestic Trade, Cooperatives and Consumerism Minister Datuk Hasan Malek said, “For the time being we’re seeing what’s happening, but we’re meeting with the oil companies and the dealers.”
Fomca secretary-general Datuk Paul Selvaraj states that petrol dealers will have to deal with the situation, as global crude oil prices has dropped.
Via TheStar
