Friday, July 1, 2005

"It is not true. There will be no fuel price increase just yet"

Fuel Price Increase - Not Yet, Later-lah

Fuel Price Hike: Not Yet-lah, says PM Posted by Picasa

"It is not true. There will be no fuel price increase just yet," said Prime MInister Datuk Seri Abdullah Ahmad Badawi.

Pak Lah was responding to rumours that were circulating nationwide yesterday that price of petrol had increase of RM0.20 per litre as of July 1, 2005.

In anticipation, motorists throughout the country rushed to petrol kiosks to fill up their tanks. This caused jams at the stations but the motorists did not seem to mind.

“Rumours are never correct,” he said. He said no decision had been made on the matter, as the Cabinet Committee to Study the Impact of Rising Oil Prices on the Economy had not even met to discuss the issue.

However, he stressed that the Government was concerned about the recent increase in crude oil prices to a record high of more than US$60 per barrel; the matter was even discussed at the council meeting yesterday.

Abdullah, when asked if there was an impending increase in retail fuel prices, said:

“Let’s see. I also want to see."

“The price rise to above US$60 per barrel is a development that has to be looked into.”

Abdullah said there was no need to speculate on the matter, as the committee chaired by Deputy Prime Minister Datuk Seri Najib Tun Razak has not even met.

“Let the committee make proposals, and the Cabinet decide on them. Even so, that will only happen if proposals are made by the committee.”