Zakirin
Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim has stated that reducing fuel prices further is not a simple task, as any additional price cuts would require massive government expenditure.
Anwar emphasized that while the government is fully committed to implementing various targeted measures to ease the people’s cost of living, it must simultaneously ensure the nation’s long-term financial stability.
Malaysia’s Fuel Pricing Among the Lowest Globally
Defending the current subsidy structure, the Prime Minister highlighted that Malaysia’s petrol and diesel prices remain highly competitive on a global scale:
- RON95 Petrol: Anwar reiterated that the retail price of RON95 in Malaysia remains among the lowest in the world, heavily shielded by government subsidies to protect consumers from volatile global crude oil market prices.
- Diesel via Budi Madani: Under the targeted Budi Madani Diesel scheme (Budi Diesel), the price of diesel is sustained at a subsidized rate of RM2.10 per liter for eligible individuals and commercial transport operators. The Prime Minister noted that this rate also stands out as one of the lowest globally.
A Plea for Patience Amid Fiscal Reforms
Anwar urged the public to remain patient as the government systematically restructures subsidies and refines economic policies. He explained that these structural adjustments are necessary to curb leakages while ensuring national revenue is directed effectively toward low- and middle-income groups to cushion the impact of the rising cost of living.
