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Unusual for diesel to be dearer than petrol: analysts

  • "It's difficult to understand why diesel is more expensive than petrol now!"

KUALA LUMPUR, Jan 4 (Sin Chew Daily) -- Local economist Peck Boon Soon said it is unusual to have diesel price higher than petrol.

During an interview with Sin Chew Daily, Peck said such phenomenon is very rare even in the international markets, and could be due to the supply-demand relationship.

He said the higher diesel price could be attributed to the rising processing cost. Nevertheless, he said he needed to observe further whether it is just a temporary situation before he could analyze the phenomenon in depth.

Another economic commentator Phua Lee Kerk believed the higher diesel price should be caused by a domestic factor although it was hard for him to identify the actual reason now.

"Generally both petrol and diesel are processed from crude oil, and the price difference is due to production or processing costs, which is relatively stable for both.

"As such, it is difficult to understand why diesel is more expensive than petrol now.

"Moreover, fuel prices for these two weeks appear to have been "disconnected" from the trends of international crude prices, ringgit exchange rates and other parameters.

"We need to observe further before we can draw a conclusion."

 

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