CABINET TO DISCUSS OIL PRICE FRIDAY

KUALA LUMPUR, Oct 31 (Bernama) -- The cabinet will discuss Friday whether to reduce further the price of fuel, Domestic Trade and Consumer Affairs Minister Shahrir Abdul Samad said Thursday.

He said Prime Minister Abdullah Ahmad Badawi would announce the new price
if cabinet members agreed to the reduction.

"This matter has to be discussed first and any decision made will have to
involve four ministers -- the Prime Minister, Deputy Prime Minister, Second
Finance Minister and myself.

"It's true that the government intents to reduce the fuel price, but the
announcement can be tomorrow, the day after or another two weeks," he told
reporters after launching a price reduction campaign by the Tesco supermarket
here Thursday.

The government increased the fuel price by up to 41 per cent in June but
had
since reduced the price, the latest being on Oct 15 when the RON97 petrol price
was reduced by 15 sen to RM2.30 per litre, RON92 less 10 sen to RM2.20 per litre
and diesel by 20 sen to RM2.20 per litre. (US$1=RM3.5)

Earlier in his speech, Shahrir thanked the Tesco supermarket for
participating in the price reduction campaign organised by the ministry.

Meanwhile, Tesco Malaysia Chief Operating Officer David Hobbs said the
Tesco
price cut exercise was part of the ongoing quarterly commitment to help
customers to spend at reduced price.

"Customers are facing higher fuel and electricity bills, they are cutting
back spending on eating out, reducing purchases of non food and being careful
with consumption of non essential grocery products.

"But one area where customers are not prepared to compromise is fresh food.


"Our price cut today of up to 47 per cent on important everyday fresh food
is a great example of how well we listen to customers and work hard to stretch
their ringgit," he said.
-- BERNAMA