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Home News Auto News Association claims diesel subsidy withdrawal pumps up pain for 3500 petrol stations Association claims diesel subsidy withdrawal pumps up pain for 3500 petrol stations Auto News Nur Ramieza Abdul Wahid | December 19, 2024 10:48 am Bumiputera Petrol Station Operators Association of Malaysia (Bumipeda) claimed a total of 3500 petrol stations in the Peninsular to have suffered losses amounting to RM181mil since the government decided to float the price of diesel in June this year. The Secretary Hanny Julia Haron said that the diesel subsidy rationalisation had given operators a severe economic challenge. “About 98% of stations are reportedly suffering losses from petrol and diesel sales, forcing many to shift their focus to convenience store operations in a bid to offset declining fuel revenues. “The current trajectory could have severe long-term effects, including higher unemployment rates and reduced government revenues from taxes and levies. “The closures or scaled-back operations would also disrupt local economies, affecting ancillary businesses like vehicle workshops and retail shops,” she said as quoted from NST news. She also stressed that government needs to review the Automatic Pricing Mechanism (APM), which has been in place since 1983. “The APM must be aligned with the national annual budget to reflect today’s economic realities,” she said, adding that the cost structure is heavily influenced by the US dollar, which affects margins for both petrol stations and oil companies. She also raised concerns about the confusion and instability caused by dual pricing within the same storage tank, as operators are forced to buy fuel at high prices but sell it at lower rates. Earlier, the government announced that diesel prices would be floated, with the retail price set at RM3.35 per litre in the peninsula from June 10. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Print Related News Ford’s Driving Skills for Life Programme Is Coming To Sabah Auto News Gokul | October 23, 2020 Sime Darby Auto Connexion (SDAC), the sole distributor for Ford in Malaysia, has announced that for the first time this November, Ford’s global ... Quick Summary Of Brands: New Prices Without GST Here Buying Guides Siew Weng | June 04, 2018 Now that all the mainstream and premium brands have announced their new prices that have withdrawn the GST levy of 6%, we can tabulate all the prices ... MyRapid Releases Stern Warning Towards False News Spreading Auto News Chris Aaron | September 03, 2015 Following this morning’s inaccurate reports that an overhead flyover, or LRT line had collapsed near the SOGO KL shopping complex, Rapid Rail Sdn Bhd ... 13 Pengeluar Automotif Gergasi Miliki Hampir Semua Jenama Kereta Utama Di Dunia Insights Muhammad Sharil Tarmize | August 30, 2021 Dalam dunia ini, ada banyak jenama kereta seperti BMW, Honda, Mercedes-Benz, Volvo dan lain-lain. Tapi tahukah anda dalam banyak-banyak jenama ... Comments
Association claims diesel subsidy withdrawal pumps up pain for 3500 petrol stations Auto News Nur Ramieza Abdul Wahid | December 19, 2024 10:48 am Bumiputera Petrol Station Operators Association of Malaysia (Bumipeda) claimed a total of 3500 petrol stations in the Peninsular to have suffered losses amounting to RM181mil since the government decided to float the price of diesel in June this year. The Secretary Hanny Julia Haron said that the diesel subsidy rationalisation had given operators a severe economic challenge. “About 98% of stations are reportedly suffering losses from petrol and diesel sales, forcing many to shift their focus to convenience store operations in a bid to offset declining fuel revenues. “The current trajectory could have severe long-term effects, including higher unemployment rates and reduced government revenues from taxes and levies. “The closures or scaled-back operations would also disrupt local economies, affecting ancillary businesses like vehicle workshops and retail shops,” she said as quoted from NST news. She also stressed that government needs to review the Automatic Pricing Mechanism (APM), which has been in place since 1983. “The APM must be aligned with the national annual budget to reflect today’s economic realities,” she said, adding that the cost structure is heavily influenced by the US dollar, which affects margins for both petrol stations and oil companies. She also raised concerns about the confusion and instability caused by dual pricing within the same storage tank, as operators are forced to buy fuel at high prices but sell it at lower rates. Earlier, the government announced that diesel prices would be floated, with the retail price set at RM3.35 per litre in the peninsula from June 10. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
Ford’s Driving Skills for Life Programme Is Coming To Sabah Auto News Gokul | October 23, 2020 Sime Darby Auto Connexion (SDAC), the sole distributor for Ford in Malaysia, has announced that for the first time this November, Ford’s global ...
Quick Summary Of Brands: New Prices Without GST Here Buying Guides Siew Weng | June 04, 2018 Now that all the mainstream and premium brands have announced their new prices that have withdrawn the GST levy of 6%, we can tabulate all the prices ...
MyRapid Releases Stern Warning Towards False News Spreading Auto News Chris Aaron | September 03, 2015 Following this morning’s inaccurate reports that an overhead flyover, or LRT line had collapsed near the SOGO KL shopping complex, Rapid Rail Sdn Bhd ...
13 Pengeluar Automotif Gergasi Miliki Hampir Semua Jenama Kereta Utama Di Dunia Insights Muhammad Sharil Tarmize | August 30, 2021 Dalam dunia ini, ada banyak jenama kereta seperti BMW, Honda, Mercedes-Benz, Volvo dan lain-lain. Tapi tahukah anda dalam banyak-banyak jenama ...