PM Anwar says Malaysia’s RON95 petrol at RM1.99 per litre beats Saudi Arabia’s RM2.40, refuting claims of uncompetitive fuel pricing.
KUALA LUMPUR: Retail fuel prices in Malaysia are lower than in major oil-producing countries such as Qatar and Saudi Arabia, said Prime Minister Datuk Seri Anwar Ibrahim.
He said the price of subsidised RON95 petrol under the BUDI MADANI initiative remained at RM1.99 per litre, compared with the price in Saudi Arabia, which is now above RM2.40 per litre, thereby demonstrating the government’s commitment to maintaining fuel prices at an affordable rate.
As such, he said claims that petrol prices in Malaysia are no longer competitive compared with other oil-producing countries are inaccurate as current prices in this country are still lower.
“Fuel prices in Malaysia are lower than those in Qatar and Saudi Arabia, that is a fact that must be remembered. When we called for fuel prices to be reduced to RM1.50, the price in Saudi Arabia at that time was around 50 sen.
“Now, the price of RON95 petrol in Malaysia is RM1.99 per litre, while in Saudi Arabia it is over RM2.40 per litre. Qatar and the United Arab Emirates (UAE) also recorded higher prices, and the UAE even raised fuel prices two months ago despite being a major oil producer,” he said at the Dewan Rakyat today.
He said this when replying to a supplementary question from Datuk Rosol Wahid (PN-Hulu Terengganu), who questioned the difference in fuel prices during the administration of Datuk Seri Najib Razak, as well as Anwar’s pledge, when he was in the opposition, to reduce fuel prices.
Elaborating, Anwar said changes in fuel prices should be viewed in the context of the current economic situation and by considering the full range of assistance channelled by the government to the people, including the Sumbangan Tunai Rahmah (STR), Sumbangan Asas Rahmah (SARA), the RON95 petrol subsidy and the BUDI Diesel programme.
“Overall, the assistance provided is much greater than before, but I do not want to compare, sometimes it may be different and the country’s revenue was also much lower than it is now,” he said.
He also welcomed any constructive proposals to improve policies related to fuel prices, while stressing that the government always listens to the views of all parties before making any policy adjustments to ensure economic stability and the well-being of the people.
Earlier, in his original question, Rosol asked the Prime Minister to explain the government’s assessment of the impact of the prolonged crisis in the Strait of Hormuz and the steps taken to reduce its impact.
Anwar said the government is focusing on ensuring sufficient fuel supplies, maintaining stability in the prices of goods, providing assistance to micro, small and medium enterprises (MSMEs) and strengthening economic resilience.
He said the allocation for STR and SARA had been increased to RM15 billion this year, benefitting over nine million recipients, while the Kuala Lumpur City Hall (DBKL) and Majlis Amanah Rakyat (MARA) have also provided rent deductions for business premises.
Anwar added that geopolitical tensions in West Asia and disruptions to key trade routes, such as the Strait of Hormuz, continues to put pressure on the global and national economies.
