Oil production has been at or near record highs in the United States, Russia and Saudi Arabia.
He says that replicating the BN-era formula would protect the people from volatile oil prices.
The oil company says it first applied to be a gov't vendor in 2015, and to be a supplier the next year.
RON95, RON97 and diesel will retail at RM2.20, RM2.47, and RM2.18 per litre yet again.
Reason for discrepancy unclear, but occurs amid speculation that Parliament will be dissolved on Friday.
Producers look set to continue cutting output for the rest of the year and potentially into 2019.
Abang Johari announces return of rights at the launch of Petros, the state's own oil company.
This comes after fuel prices reached a record high under the weekly-price system last Thursday.
The deputy minister wants action against the message claiming high prices are to curb accidents.