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Companies not likely to hoard fuel, says association

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PETALING JAYA: It is highly unlikely that transport operators and logistics companies are hoarding fuel due to cheaper prices as a result of the globa...

It is highly unlikely that transport operators and logistics companies are hoarding fuel due to cheaper prices as a result of the global Covid-19 pandemic.

“Although global oil prices have dropped significantly, these people will still not go to petrol stations to hoard fuel, because it is still cheaper to buy it directly from oil companies,” he said yesterday. Fuel prices have dropped across the board for six consecutive weeks in the country, with both RON95 and diesel costing markedly lower than the capped prices of RM2.08 and RM2.18.

Khairul Annuar added while the government’s move to announce a six-month moratorium on bank loans was commendable, many petrol companies operate on overdrafts.

 

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