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Simplified formula on RON95, diesel soon

 | December 3, 2014

Supplies coming in soon from Singapore to address shortage of RON97.

RON95KUALA LUMPUR: Domestic Trade, Cooperatives and Consu­merism Minister Hasan Malek has confirmed in a brief statement that a simplified version of the formula used to calculate RON95 and diesel at the pump would be posted on his Ministry’s website soon after getting clearance from the Finance Ministry.

RON95 and diesel prices are under the managed float system, also dubbed “dirty float”, which is also used to determine the price of the higher grade RON97.

Hasan, touching on another matter, assured that the shortage of RON97 would end within the week.

“We are in talks with petrol dealers and oil companies and they have assured us that the issue would be dealt with soon,” he said. “There are a total of 130 stations out of the 3,600 nationwide that do not have stock of RON97 but it has nothing to do with petrol hoarding.”

“Petrol dealers should ensure that they order more stock of RON97 but of course supply for any additional order will take time.”

He warned that action would be taken against petrol dealers under the Supply Control Act 1961 if they are found guilty of hoarding or hiding petrol. Measures are being taken to bring in additional stocks from Singapore, he added.

Further details on RON97 can be obtained at 1800-886-800.

Shell, in a brief statement, explained that the RON97 shortage at the petrol pumps was due to increased demand.

The company was responding to claims by the Petrol Dealers Association of Malaysia (PDAM) that oil companies were not providing them with sufficient supplies of the fuel.

“If we do not sell, we don’t earn. It is as simple as that,” said PDAM President Hashim Othman.

“Petrol dealers are supposed to have at least three days’ worth of stock and our licences can be withdrawn if we run out of stock.”

The shortage took place, he claimed, three days before December 1 as the oil companies were not providing sufficient supplies.


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