THE government is looking to stave off a possible petrol supply shortage in the new year, said Prime Minister Dr Mahathir Mohamad, as reports surfaced of stations shutting down over the implementation of a new pricing system.

“We will look into the matter,” Dr Mahathir said in response to reports of stations that have shuttered without approval from the Petrol Dealers Association of Malaysia (PDAM).

It is believed they had done so due to their inability to absorb losses from implementing the weekly float system the government intends to reintroduce next month.

Dr Mahathir added that the government would meet with PDAM tomorrow to discuss the new pricing mechanism. 

The government’s decision to revert to the weekly price system for petrol has angered station operators, who said they will face losses due to the drop in fuel prices.

Bumiputera Petrol Station Operators Association president Abu Samah Bachik had previously said that stations could not afford to replenish their supplies for next month as the price drop would affect their revenue.

This had triggered rumours on social media that fuel shortages could start at the beginning of the new year.

“I will have discussions tomorrow with them, if possible, and we will find out how best to resolve the problem.”

On a guarantee that there would be no fuel shortage, Dr Mahathir said: “I cannot give you my assurance. All I can give you is my word.” – December 30, 2018.