The government must float RON95 petrol prices weekly otherwise the people could be overpaying as much as 40sen by end of January, said PKR vice president Rafizi Ramli.

"Unfortunately, with the pricing system on a monthly basis that is being used now, Malaysians are continuing to pay RM1.91 a litre although the (market) price has fallen much lower.

"The people are paying a price differential of between 30sen to 40sen a litre, that is being collected by BN in the form of hidden tax," he said in a statement today.

Rafizi ( right ) said according to the government's calculation system, the actual price per litre on Jan 9 had fallen to RM1.62, although retail pump price remains at the month's fixed price.

The Pandan MP who has been advocating for a weekly pricing system, calculated the price by month end could be as low as RM1.50 a litre.

Rafizi said it was encouraging that Domestic Trade Cooperative and Consumerism Minister Hassan Malek called an emergency cabinet meeting last Friday, Jan 9 to discuss the fuel price issue.

The PKR veep noted this came a day after he made a call to overhaul the fuel retail system and put in place a consignment system that is fairer to both consumer and retailer.

'Make decision without delay'

He called on the minister to reveal to the public what has transpired at the said meeting.

"Has BN finally agreed to reduce prices weekly so that the people can enjoy lower petrol and diesel prices?

"And has BN agreed for a consignment stock system to be implemented immediately by the local oil dealers so that weekly price system can be put in place without disrupting the entire gas station operations?" he asked.

Rafizi also called on Hassan to raise this at this week's cabinet meeting and that the government makes a swift decision "as soon as possible, so that the people are not continually victimised".