Malaysiakini Letter

Oil prices down, when will prices of goods reduce?

Amarjit Singh Gill, Malaysian Consumers Association  |  Published:  |  Modified:

With the drop in crude oil and also with the further reduction of fuel price here in Malaysia, the Malaysian Consumers Association (Maconas) urges the government that ensure business owners to follow the same footsteps to also lower the prices of their goods which they had increased due to the hike in fuel prices.

With the crude oil price expected to go down further, the oil prices in Malaysia particularly for RON95 and diesel will also go down.

Malaysians have been battling with rising prices of goods in recent months and high cost of living, and thus any price reduction will be most welcomed by the consumers.

With the Goods and Services Tax (GST) being introduced in April last year, that had also further pushed prices upwards and at least with the reduction of fuel prices, there is an avenue for transportation sector to lower their prices.

The Domestic Trade and Consumers Affairs Ministry is also urged to do enforcement on business premises to ensure that whenever there is lowering of petrol price, so that the prices of goods should also go down.

It’s not good enough for businesses to increase their prices for goods and services when the petrol price goes up, and sit idle and do nothing when the petrol price goes down.

Whenever there is a oil hike, business always put the blame on the hike and use it as an excuse to raise prices.

AMARJIT SINGH GILL is secretary-general of the Malaysian Consumers Association (Maconas).

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