Weekly price ceiling to benefit PetDag

KUALA LUMPUR: The new weekly price ceiling for fuel will likely benefit Petronas Dagangan Bhd (PetDag) as the industry moves towards more deregulation.

Now that fuel prices will no longer be fixed anywhere above the weekly ceiling price set by the Government, UOB Kay Hian believes this would set the stage for a price war among petrol dealers in which PetDag, Malaysia’s largest petroleum retail chain, will likely be the predictable winner. PetDag has around 1,000 fuel stations in Peninsular Malaysia and a 30% market share of the industry.