The government expects the supply of RON97 nationwide to return to normal next week, says Domestic Trade, Cooperatives and Consumerism Minister Hasan Malek.

He said there was a supply shortage of RON97 following a sudden surge in demand after the decline in crude oil prices since Dec 1.

However, he assured that the shortage was only temporary.

The reduction in the pricing of RON 97 petrol has seen an increase in demand for it, which has resulted in supplies running low, he told reporters today after opening the new Bank Rakyat branch in Jalan Travers, Kuala Lumpur.

Many consumers switched from RON95 when the price of RON97 dropped by 10 sen to RM2.75 per litre and this resulted in the acute shortage.

“There is no issue of hoarding here or oil companies reaping hefty profits as technically the disruption in supply is due to spiraling demand,” he said when commenting on claims that traders were hoarding the fuel which resulted in its shortage.

- Bernama