The Middle East crisis has led to global instability for oil supply and fuel prices but prime minister Datuk Seri Anwar Ibrahim assures that Malaysians will likely not face an oil supply crisis, although fuel prices might climb incrementally. According to the report by News Straits Times, Anwar puts it down to Petronas strong track
The Middle East crisis has led to global instability for oil supply and fuel prices but prime minister Datuk Seri Anwar Ibrahim assures that Malaysians will likely not face an oil supply crisis, although fuel prices might climb incrementally.
According to the report by News Straits Times, Anwar puts it down to Petronas strong track record as a net oil importer and its solid business rapport with the major oil-producing nations.
“We are also net importers because our products are premium-branded and slightly higher priced, yet we still import. Praise must be given to Petronas for their excellent performance and good relations with oil-producing countries. Therefore, we are not facing a supply crisis. There may be some price fluctuations, but in the next few months, supply is relatively secure,” Anwar shared.
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Anwar further assured Malaysians that there will be no shortage with the supply of liquefied natural gas (LNG) due to Malaysia’s production, imports from Australia and supply from Canada.
Anwar reported that Malaysia’s petroleum supply is sufficient until the end of May 2026. However, there will likely be an increase in the price of fuel.
While RON 95 petrol under the Budi95 scheme remains at RM 1.99 a litre, the monthly quota for qualified Malaysians has been temporarily reduced from 300 litres to 200 litres. The price of unsubsidised RON95 is RM3.87 per litre and RON 97 is RM4.95 per litre. Diesel users have been hit the hardest with the price per litre climbing to RM 6.02.