Tag: BUDI Diesel programme.

Malaysia’s RON95 Fuel Price Remains Lower Than Saudi Arabia, Qatar – PM Anwar

KUALA LUMPUR, July 14 -- Prime Minister Datuk Seri Anwar Ibrahim said Malaysia’s retail fuel prices remain lower compared with several major oil-producing countries, including Saudi Arabia and Qatar, despite global economic uncertainties. Anwar said the subsidised RON95 petrol price under the BUDI MADANI initiative is currently maintained at RM1.99 per litre, while petrol prices in Saudi Arabia have exceeded RM2.40 per litre. He said the comparison showed that the government remains committed to ensuring fuel remains affordable for Malaysians, while continuing to provide targeted assistance to the people. “Fuel prices in Malaysia are lower than those in Qatar and Saudi Arabia. That is a fact that must be remembered,” he said during the question-and-answer session in the Dewan Rakyat today. Responding to a supplementary question from Datuk Rosol Wahid (PN-Hulu Terengganu) on fuel prices during the previous administration and his earlier pledge, while in the opposition, to reduce petrol prices, Anwar said fuel costs must be viewed based on the current economic environment. He pointed out that when there were calls previously to reduce petrol prices to RM1.50 per litre, Saudi Arabia’s fuel price at that time was around 50 sen per litre. However, current prices in Saudi Arabia, Qatar and the United Arab Emirates (UAE) are now higher compared with Malaysia. Anwar said the UAE, despite being a major oil-producing nation, had also increased fuel prices recently due to changing global market conditions. The Prime Minister stressed that fuel prices should not be assessed in isolation, as the government’s overall support measures include various forms of assistance such as the Sumbangan Tunai Rahmah (STR), Sumbangan Asas Rahmah (SARA), RON95 fuel subsidies and the BUDI Diesel programme. “Overall, the assistance provided is much greater than before. However, I do not want to compare because circumstances differ and the country’s revenue situation was also different,” he said. Anwar added that the government remains open to constructive suggestions on improving fuel-related policies, while ensuring economic stability and protecting the welfare of the people. Earlier, Rosol had asked the government to explain its assessment of the impact of the prolonged crisis in the Strait of Hormuz and measures taken to reduce its effects on Malaysia. In response, Anwar said the government is focusing on ensuring adequate fuel supplies, controlling the prices of essential goods, supporting micro, small and medium enterprises (MSMEs), and strengthening the country’s economic resilience. He said allocations for STR and SARA had been increased to RM15 billion this year, benefiting more than nine million recipients nationwide. The Prime Minister added that geopolitical tensions in West Asia and disruptions to major trade routes, including the Strait of Hormuz, continue to pose challenges to both the global and Malaysian economies. -- MINUTESMY

KUALA LUMPUR, July 14 — Prime Minister Datuk Seri Anwar Ibrahim said Malaysia’s retail fuel prices remain lower compared with several major oil-producing countries, including Saudi Arabia and Qatar, despite global economic uncertainties. Anwar said the subsidised RON95 petrol price under the BUDI MADANI initiative is currently maintained at RM1.99 per litre, while petrol prices […]