PM: New fuel prices to be determined tomorrow

(Bernama) – Petroleum retail prices will be determined at the Cabinet meeting tomorrow, after considering the interests of both buyers and sellers.

Prime Minister Tun Dr Mahathir Mohamad said the government hopes to be able to reduce the price of petrol, but all aspects must first be considered.

“We (the government) would like to bring the price of petrol down, but people who sell it must also make some profit, if they do not, they will not sell it and we will not get any petrol.

“So we have to balance between the buyers and the sellers (before making a decision on the price of petrol),” he told reporters after attending the Langkawi eKasih Back to School programme at Sekolah Menengah Kebangsaan Kedawang here today.

Yesterday, Finance Minister Lim Guan Eng said in a statement that the retail prices of RON97, RON95 and diesel will remain unchanged at RM2.50, RM2.20 and RM2.18 per litre, respectively, for several days, until the Cabinet meeting.

In a separate development, Dr Mahathir said the statement by Parti Pribumi Bersatu Malaysia (Bersatu) vice-president Tan Sri Abdul Rashid Abdul Rahman on granting contracts to cronies was his own personal view and did not represent the party.

“It was not a party decision, he gave his opinion, and we are not keeping to it. We do not want to do what Najib (former prime minister Datuk Seri Najib Razak) did, giving (projects) to friends.

“We will consider all projects according to tenders, whoever is capable can submit their tenders and if they can provide the best, then we will award them (the contract),” he said.

In his winding-up speech at the second Bersatu annual assembly in Putrajaya recently, Abdul Rashid said the Federal Development Department must return to its original role so that the system will benefit division and branch leaders who could “return” the benefits to the local community.

He was reported as saying contracts for development projects should be  granted to division and branch heads.