Economy Minister says government has no plans for drastic changes to fuel price or policy, maintaining stability despite Middle East conflict.
KUALA LUMPUR: The government will maintain the subsidised RON95 petrol price at RM1.99 per litre with no plans for drastic changes.
Economy Minister Akmal Nasrullah Nasir stated the ongoing Middle East conflict does not provide strong indicators to alter existing policies or domestic fuel prices.
“Our ministry is observing closely what’s happening (in the Middle East), but it doesn’t give any indication for the government to make any drastic change in terms of policy,” he said.
He added the government has implemented a targeted subsidy and is still maintaining a reasonable RON95 price for the people.
The minister was speaking after attending the OGSE100 CEOs Forum 2026.
On March 1, Prime Minister Anwar Ibrahim said the government would strive to maintain the RON95 petrol price at RM1.99 per litre despite global market uncertainties.
Anwar, who is also the Finance Minister, acknowledged that increased global oil prices due to Strait of Hormuz disruptions are expected to affect the country.
He affirmed the government’s determination to maintain the subsidised price under the Budi MADANI RON95 (BUDI95) programme.
Meanwhile, Akmal Nasrullah said the government is keeping its 2026 gross domestic product growth forecast at 4.0-4.5 per cent.
This forecast stands despite the ongoing conflict in the Middle East.
“If there is any need to readjust the number, it would be done by Bank Negara Malaysia; but as of today we are still going ahead with our growth target for 2026,” he added.
