Will the subsidised price of RON95, currently capped at RM1.99 per litre, rise in the coming months?
The Malaysian government is concerned that the ongoing conflict in the Gulf region could have long-term repercussions on the country’s economy, including its ability to keep fuel prices stable. Prime Minister Anwar Ibrahim said the Federal Government is still able to maintain fuel prices, including the subsidised RON95.
However, he cautioned that recent developments in the region could disrupt global trade and energy supplies. Anwar said the closure of the Strait of Hormuz by Iran has left more than 200 oil, gas, and cargo vessels stranded in surrounding waters, sparking fears of disruptions to international shipping and energy markets.
He noted that such disruptions would inevitably affect businesses and international trade, while also increasing transportation costs as cargo ships are forced to take longer alternative routes.
“So far, as I have announced, we will try to maintain control of fuel prices. We are closely monitoring the situation because, at present, we believe we can sustain this for the next one to two months,” he told reporters yesterday (6 March) after performing Friday prayers at the musalla at IOI City Mall in Putrajaya.
Anwar added that early indicators suggest the outlook may not be very encouraging
He said the MADANI Government is closely monitoring developments in the Gulf, describing the situation as worrying as military attacks involving the United States and Israel against Iran continue. According to him, the government’s immediate concern is the potential impact on both the economy and regional geopolitics if the conflict persists.
Anwar warned that rising tensions could lead to higher prices for goods and imports, particularly affecting small and medium enterprises as well as food supplies.
He urged the public, including civil servants, workers, and business owners, to remain cautious and not underestimate the potential impact of the crisis.
Also read: “Grateful to be Malaysian” – Man Compares Fuel Prices Globally & Finds Malaysia to Have the Cheapest
