Sunday August 24, 2008
Fuel price to be reviewed every 15 days
KUALA LUMPUR: The Government has agreed to review fuel prices every 15 days instead of every month, said Housing and Local Government Minister Datuk Seri Ong Ka Chuan.
He said with this, the Government is able to further reduce fuel prices if global oil prices continued to drop.
Ka Chuan, who said he proposed the review period, said the decision was made during a Cabinet meeting on Friday.
“If this down trend of oil prices continue, we want to be able to make sure we can ease the burden of the rakyat by lowering fuel prices,” he told a press conference after attending the Utar Seventh Convocation ceremony, where he presented some 500 graduates with their accolades here yesterday.
He said the mechanism, however, would take into consideration oil prices within a 15-day period and then determine whether any reduction was viable.
Ka Chuan said it did not necessarily mean that fuel prices would drop if global oil prices went down.
He said global oil prices could fluctuate significantly within the 15-day period, making it hard to make a “guarantee” to reduce fuel prices.
He said the Government would have to take into consideration the extent of the drop or increase in prices before making a decision.
“Rest assured, however, petrol prices would never exceed RM2.70 a litre if global oil prices increase again,” he said.
Ka Chuan, who is also MCA secretary-general, stressed that the 15 sen reduction in fuel prices was not made to woo voters in the Permatang Pauh by-election on Aug 26.
He said the move was made after considering fuel prices between Aug 1 and Aug 21.
In Kuala Lumpur, party vice-president Datuk Ong Tee Keat said the Opposition should not try to score points by constantly demeaning the Barisan Nasional-led Federal Government.
“To be fair, we had given our commitment to lower fuel prices, subject to the global situation, even before Permatang Pauh was vacated. We are just honouring our commitment,” said Tee Keat, after witnessing the handing over of a mock cheque for RM1.5mil donated by Sports Toto Malaysia to Yayasan Sunbeams Home for the construction of a bigger premises for needy children, neglected senior citizens and a shelter for single mothers.
He noted that the Government chose to announce the fuel price reduction earlier than expected as it wanted the people to get relief as soon as possible.
“The Government has to be sensitive to the hardship faced by the people. Furthermore, there had been calls for the fuel price revision to be made once every fortnight, not monthly. We have to listen to what the people want,” said Tee Keat.
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