Rumours of another petrol price hike lead to a pandemonium in service stations all over Kuala Lumpur early last night with cars forming long queues to fill up their tanks.

It turned out that the motorists' effort to save a few ringgit turned out to be a waste of time - there was no government announcement yesterday of an increase in petrol and diesel prices.

According to those queuing up at the petrol stations, they got wind of the rumour from friends and family members.

However, many were outrage that there would be a price hike only two months after petrol and diesel prices were increased.

"It's ridiculous, and what with Petronas gaining billions in profit this year. The government should be considerate to the people's needs," said a motorist at a Taman Kosas petrol station in Ampang.

Government-owned national oil company Petronas yesterday reported that it posted its best-ever financial performance for the year ended March, with net profit surging 55% to hit RM58 billion (after-tax profits of RM35.6 billion) from the year before.

Sharpest hike in years

The price of petrol was increase by a hefty 10 sen per litre and diesel by 20 sen per litre on May 4. The 7 percent (for petrol) to 23 percent (for diesel) increase was the sharpest hike in oil prices in recent years.

"Logic dictate that the government will raise the petrol price again because the price for oil in the world market has hit the $60 per barrel mark," said a bus driver.

"Now we must be ready to pay more for even a decent meal," he fumed.

A petrol station attendant, when asked about rumours of the price hike, just smiled and shrugged his shoulder.

However, others were less bemused, especially after hearing nothing about the so-called price hike from the radio stations.

By 11pm, most of the motorists decided to accept that the price hike was just a rumour, and the panic was over.