FOMCA - Bring Back Fuel Hike Announcements, Essential For Consumers To Plan Budget

The Government’s move to issue no further notifications on the price increases of fuel at the pumps has spurred the Federation of Malaysian Consumers into an arguing against the new practice. 

Bernama reports that the association believes that it would negatively impact the ability of the Malaysian people to properly plan their budgets, according to its president Datuk N. Marimuthu. Having a notification means the public won’t be completely caught off guard.

“We feel it’s better to continue with the practice of making the official announcement on new fuel prices prior to the first day of a new month instead of only being informed at the pump stations,”

He added that FOMCA would submit a petition concerning the issue to the Domestic Trade, Cooperatives, and Consumerism Ministry.

It is a direct response to the July 30 announcement by Domestic Trade, Cooperatives, and Consumerism Minister Datuk Seri Hasan Malek that no such no prior warning would be given toward the fuel price increases and that retailers would only be notified on the last day of the month at midnight, irrespective of whether there is a price change or not.

The news agency also said that it was because the whole process was repeated, eventually becoming a routine that followed the implementation of the Managed Float System for the RON95 petrol price and diesel from December 1, 2014 whereas the price of RON97 was subject to the fluctuations of the market price.

In case you missed it, you can read more on the latest fuel price changes here.