Prime Minister Datuk Seri Anwar Ibrahim has assured Malaysians that there won’t be an increase in RON95 petrol price in the country even if there is a sharp increase in global crude oil prices due to geopolitical tensions involving Iran and Israel.
Anwar was quoted by BERNAMA as saying that while a price increase would benefit the national petroleum company Petronas, the Government won’t burden the rakyat with higher fuel costs.
The Prime Minister assures Malaysians that the Government won’t raise RON95 prices amidst geopolitical tensions
Source: Selangor Kini
The Prime Minister said that oil prices fluctuate and currently, the prices are relatively low. Regardless, even if global oil prices increase, the Government won’t increase the RON95 price in Malaysia.
He asserted,
“(If) there is a sharp increase, the returns are good for Petronas, but it affects other countries. We are not increasing fuel prices,”
Datuk Seri Anwar Ibrahim
For context, RON95 petrol is subsidised in the country for Malaysian citizens. However, the Government will soon end the blanket subsidy for RON95 in favour of a targeted subsidy mechanism.
When tabling Budget 2025 in October of last year, Anwar revealed that a majority of Malaysians or around 85%, will still enjoy subsidised RON95.
However, the mechanism to implement this targeted subsidy has yet to be announced, with the Prime Minister recently alluding that Malaysians may have to present their identification cards (ICs) at petrol stations to ensure their eligible for the subsidy.
So, what do you guys think of Anwar’s statement? Do share your thoughts with us in the comments.
Also read: “You might need to show your IC” – PMX Says Price of RON95 May Be Reduced Gradually
