PMX: BUDI95 Stays at RM1.99/Litre Despite Global Oil Surge, No Raya Open Houses for Govt & GLCs This Year

During a media conference today (11 March), Prime Minister Datuk Seri Anwar Ibrahim provided a brief update on the escalating conflicts in West Asia, specifically involving attacks against Iran by Israel and the United States (US).

In his announcement, Anwar assured the public that the nation’s petroleum supply remains under control and is sufficient to last at least until May this year.

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Impact on local fuel prices?

Despite the global instability, Anwar confirmed that the government has decided to retain the subsidised BUDI MADANI RON95 (BUDI95) price at RM1.99 per litre.

The Prime Minister stated:

“We will maintain the price, although the market price is currently three times higher. On 9 March, the price of Brent crude reached USD119 (~RM466.72).”

He also pointed out that over 400 oil tankers are currently stranded in the Strait of Hormuz. This narrow shipping route between the Persian Gulf and the Gulf of Oman is a vital artery for global trade, as a significant portion of the world’s crude oil and liquefied natural gas passes through it.

No Aidilfitri open houses for government & GLCs

With Hari Raya Aidilfitri less than two weeks away, Anwar announced that the government and Government-Linked Companies (GLCs) will not be hosting annual Raya open houses this year.

“We are sending a message to remind everyone to spend wisely and moderately. Be moderate and be responsible to avoid any unwanted consequences,” Anwar stressed.

Additionally, the Prime Minister announced that all overseas trips for ministers will be restricted unless attendance is strictly compulsory.

The Prime Minister concluded by stating that a Cabinet meeting will be held this Friday morning (13 March) to further assess the situation.

Stay tuned to WORLD OF BUZZ as we keep you updated.

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