Putrajaya's decision to put off the reintroduction of the weekly float for fuel prices, despite the declining price of global crude, is a trick to rake in profit from the people, according to a PAS leader. 

In a statement today, PAS central committee member Mohd Khairuddin Aman Razali claimed that based on the Mean of Platts Singapore (Mops) and Automatic Pricing Mechanism (APM), RON95 fuel should have been sold at RM1.90 per litre.

"This means that by retaining the fuel price at RM2.20 per litre, the government rakes in 30 sen per litre from users.

"Heading into the new year, users have to once again bear 'subsidies' for the government," he said.

The government announced yesterday that the prices of RON95 and RON97 fuel would be maintained at RM2.20 and RM2.50 per litre respectively until Friday.

Finance Minister Lim Guan Eng said his ministry would discuss the optimum retail price at a cabinet meeting chaired by the prime minister on Wednesday.

Rising cost of living

In his statement, Khairuddin also reminded Putrajaya to conduct thorough research on the mechanism to determine petrol and diesel prices, so that kiosk operators would not be beset by unnecessary problems.

Saying that users only profit from the APM when the price of global crude declines, he suggested that the mooted ceiling price of RM2.20 (RON95 fuel) and RM2.18 (diesel) per litre can be brought even lower.

"The maximum price limit is important so that the people are not burdened with the rising cost of living and to avoid the sudden hike in the user price index.

"The government must limit the maximum market price for the fuel (to a maximum of 15 sen per litre) so users are not adversely affected," he said.