PETALING JAYA, Dec 1 — The managed float method for fuel prices which began today triggered worry among members of the public over a possible spike in prices and how it would affect their monthly expenditure.

Ahmad Fadzlee Ramli, 22, said petrol was the third highest cost on his finances.

“If it ever increases, the only other cost I have that can be reduced to keep me financially stable is food. I am not looking forward to that,” he said.

“Even if the fuel prices go down, I am sceptical of prices of other things going down.”

College student Nurulzalifah Md Khair, 19, said no matter how much the fuel prices end up every month, she has no choice but to accept it.

“Most people earn a fixed monthly income. The fluctuating fuel prices means we won’t be able to plan for the month,” she said.

“If fuel prices drop after the subsidies are lifted, what is the point of subsidising them in the first place?”

Another consumer who only wished to be known as Tan said he does not think people are ready for the subsidy to be lifted.

The 48-year-old said the public need to understand that the end of the subsidy and the implementation of the managed float are two separate things. 

He said businesses and the structure of how they affect each other are not prepared for price fluctuations and don’t necessarily know how to deal with it.

“It is good if the prices go down, but the people are not earning enough if prices go up,” he said.

A petrol station operator who requested anonymity said the monthly fluctuation will be difficult on petrol station owners.

“Operators have no control over the auto supply and auto debit systems set by oil companies that was originally created to make transporting supply convenient.

“Whenever prices are expected to go up or go down, we are subjected to these oil companies choosing to withhold or dump their supply on the operators and charge us in a way that benefits them. There is no regulation for this,” he said.

“If we are subjected to this on a monthly basis, operators will be on the losing end. The government needs to be mindful of how this float system will affect the industry as a whole.”