A complete of three,500 petrol stations in Peninsular Malaysia have sustained losses amounting to RM181 million because the floating of diesel gas pricing in June this 12 months, reported The Star.
In line with Bumiputera Petrol Station Operators Affiliation of Malaysia (Bumipeda) honorary secretary Datin Hanny Julia Haron, the subsidy rationalisation for diesel gas in Peninsular Malaysia had confronted operators with a extreme financial problem.
“About 98% of petrol stations are reportedly struggling losses from petrol and diesel gross sales, forcing many to shift their focus to comfort retailer operations in a bid to offset declining gas revenues,” Hanny Julia mentioned, including that the present development might result in increased unemployment charges and lowered authorities revenues from taxes and levies.
Closures of stations, or scaled-down operations would additionally disrupt native economies, which is able to have an effect on companies like workshops and different stores, she added.
“The APM have to be aligned with the nationwide annual price range to mirror right this moment’s financial realities,” stating her view that the automated pricing mechanism (APM), which has been in place since 1983, must be reviewed. Hanny Julia additionally raised considerations for confusion and instability attributable to twin pricing for fuels throughout the similar storage tank, as operators are compelled to purchase gas at excessive costs however promote it at decrease costs.
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