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Article: Setting the retail price for petrol and diesel

Article from:
New Straits Times
Article date:
February 15, 2009
Author:
Copyright

Ismail Ahmad
New Straits Times
02-15-2009
Setting the retail price for petrol and diesel
Byline: Ismail Ahmad
Edition: New Sunday Times
Section: Main Section

HOW does the government determine the price of petrol?

While not exactly rocket science, it is nevertheless a complicated computation, taking into account a range of factors and considerations, which is used to decide how much it costs to fill up your tank.
Since 1983, the retail price of petrol and diesel is set using the Automatic Pricing Mechanism (APM).

Through it, the government sets the retail price for petrol and diesel at a level where fluctuations in the cost of the product will not affect the retail price.

The APM ensures the ...

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