RON95 price stays at RM1.99 per litre, petrol supply secure until May

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By Karen Bong

KUCHING, March 11: The price of subsidised RON95 petrol will be maintained at RM1.99 per litre under the Budi95 initiative, while the country’s petrol supply remains sufficient until at least May 2026.

Announcing this during a special live-streamed press conference from Putrajaya today, Prime Minister Datuk Seri Anwar Ibrahim emphasised that the Cabinet had made the difficult decision to maintain the petrol price despite recent surges in global oil prices caused by escalating conflicts in West Asia, which have disrupted international oil and gas supply chains.

“This is a difficult decision, but it ensures that the rakyat are protected from rising fuel costs. Even compared to neighbouring countries, our petrol price remains almost three times lower,” he said.

The Prime Minister noted that over 400 oil tankers and around 3,000 cargo vessels are reported stranded, as tensions have restricted airspace, flights, and disrupted oil and gas supplies that usually pass through the Strait of Hormuz. Brent crude oil prices reached USD119 per barrel on March 9 before easing slightly to USD90 per barrel yesterday.

Anwar highlighted that proactive measures by Petroliam Nasional Berhad (PETRONAS) and the government have ensured sufficient petroleum products for domestic consumption, underscoring the importance of efficient, professional, and accountable management.

“This situation is clearly different from most other countries. That is why I always emphasise the importance of good governance, efficiency, and professionalism. We will continue to focus on protecting the interests and welfare of the people, shielding citizens from the full impact of rising oil prices and other essential goods,” he said.

To safeguard fuel distribution and curb smuggling, the government has tasked the Second Deputy Prime Minister Datuk Amar Fadillah Yusof to chair a working committee for stricter enforcement, particularly for diesel.

“Diesel is better controlled in Peninsular Malaysia, while unchanged prices in Sabah and Sarawak could otherwise encourage large-scale smuggling.

“Therefore, I have tasked the DPM alongside the Ministry of Domestic Trade and Cost of Living (KPDN) to ensure closer monitoring and stricter enforcement action against those attempting to take advantage in the situation,” he added.

Additionally, the Second Economy Minister has been tasked to chair a special committee meeting alongside relevant ministers to study daily economic impacts so that the government leadership remains fully informed.

Anwar said that these measures demonstrate the government’s commitment to protecting the welfare of Malaysians and ensuring economic stability during volatile global conditions.

Due to the rapid developments that require close examination, he said a special Cabinet meeting has been scheduled for Friday morning (March 13).
“This will allow ministers to review the country’s fiscal position, monitor developments more closely, and determine the next steps to be taken.

“We have faced crises before, and I am confident that with greater responsibility and cooperation from all parties, government leaders, civil servants, the private sector, and the public, we can manage this situation effectively and safeguard our nation,” he concluded. — DayakDaily

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