KUALA LUMPUR (April 9): Shell Malaysia said it is working to restore fuel supply at petrol stations amid reports of road users coming across petrol stations that have run out of fuel to sell to customers.
In a short statement, the oil and gas retailer giant said it is focusing on maintaining steady supply across its retail network following the government’s recent announcement of a hike in diesel prices. However, it noted that there may be short periods when demand rises, which could affect availability at some stations.
"We are closely monitoring what is a very dynamic situation and are prioritising efforts to support fuel supply continuity within our retail network, in line with the government’s recent announcement," said Shell Malaysia.
The statement comes amid reports of tighter fuel supply at some petrol stations, as companies adjust deliveries and logistics to match changing demand.
Shell Malaysia did not provide details on how widespread the issue is, but said it is managing the situation to reduce disruption to customers.
The Ministry of Finance announced fuel price hikes on April 8, whereby diesel in Peninsular Malaysia hit a record high of RM6.72 while RON97 rose by 40 sen to RM5.35. The ministry said that these changes were based on weekly average prices and do not reflect current global economic developments in the Middle East conflict between the US and Iran.
In recent reports, petrol station operators have highlighted how they were managing their working capital between sale of fuel and replenishment of supply, at a time when the government's subsidy portion has shot up due to rising unsubsidised fuel prices, while subsidised prices are maintained at current levels — such as RM1.99 at the pumps for RON95.
As global markets are fraught with doubt on the integrity of the two-week ceasefire agreement between the US and Iran, Brent crude oil was last seen trading at US$98 (RM390) per barrel on Thursday.