KUALA LUMPUR, Dec 2 — The Domestic Trade, Cooperatives and Consumerism Ministry were well aware that RON97 would run out but did not expect it to happen barely hours after the managed float system kicked in yesterday.
Its minister, Datuk Seri Hasan Malek, said 43 petrol stations will face shortages of the higher octane fuel as supply is dwindling faster than expected.
He attributed the shortage to a sudden spike in demand for RON97, which is now priced at RM2.46 per litre, nine sen cheaper than then retail price on Nov 30.
“Oil companies have informed that fuel supply for RON97 will deplete before their initial estimated period,” he said in a press statement yesterday.
Hasan, however, said oil companies were already working to replenish the supply by importing RON97 from a refinery in Singapore.
“We expect to overcome the shortage within the next two days. Supply should be back to normal by the end of the week.”
On the increase in diesel price compared to the market rate, Hasan said the price set at RM2.23 per litre was an average price derived from the market rate between Nov 1 and Nov 27.
He urged consumers and dealers not to panic and instead cooperate during the transition of the new float pricing mechanism.
Earlier, Hasan visited several petrol stations in Kuala Lumpur and Putrajaya after he was alerted by Malay Mail of the shortage.
During his visit to a petrol station in Jalan Hishamuddin, he was informed by the owner the demand for RON97 had increased when the price dropped from 2.75 per litre to RM2.55 per litre last month.
The government stopped subsidising RON97 since July 2010. He later visited another petrol station in Putrajaya but found there was adequate RON97.
He urged oil companies to quickly supply fuel to the affected petrol stations.
The ministry’s division director, Mohd Roslan Mahayuddin, clarified the shortage of the fuel was simply due to a spike in demand.
“We noticed certain petrol stations running out of RON97 well before Dec 1,” Roslan said.
“We investigated and found it was due to more motorists fuelling up with RON97 instead of RON95.”
He said prior to the drop in fuel price, petrol stations stocked up higher dispensation for RON95 than RON97 at a ratio of 90 per cent and 10 per cent.
“The sudden high demand was too abrupt and the petrol station owners did not have enough time to restock RON97. The ministry is working with oil companies to address the situation now.”
He said the ministry would continue to monitor the situation and ensure there were no instances of withholding essential goods, which is punishable under the Control of Supplies Act 1961.
Individuals convicted under the Act face fines not exceeding RM15,000, or jail term not exceeding two years, or both. Corporate bodies can also be found guilty under this Act and are liable to a fine not exceeding RM25,000, and a fine not exceeding RM50,000 for a subsequent offence.
Shell Malaysia Trading Sdn Bhd, meanwhile, confirmed a number of its retail stations in Peninsular Malaysia are experiencing a shortage of V-Power 97.
“We are making every effort to restore supply to the affected sites and remain committed to providing quality service to our customers,” it said in a statement yesterday.
