Malaysian deputy prime minister Datuk Seri Fadillah Yusof has told Bernama that the government is now spending RM6-7 billion a month to subsidise fuel – up from RM4 billion just last month, despite the Budi95 monthly quota having been cut from 300 litres to 200 per person beginning this month.
He however said that the government will maintain fuel subsidies to continue helping the rakyat, and that any fuel subsidy policy changes would not be abrupt or sudden, but would be guided by comprehensive data analyses rather than rushed measures.
“This is a challenge we are aware of, and we must rely on data to determine the necessary steps to ensure energy supply remains secure, the people are protected, economic growth continues, and industries receive the support they need.
“Existing subsidy policies, including for RON 95 petrol and diesel in Sabah and Sarawak, will be maintained based on current data to ensure sudden increases in living costs do not burden people,” he said.
Fadillah, who is also the energy transition and water transformation minister, said the government recognises that the West Asia conflict could go on for 1-2 years, but any action taken will prioritise protecting the majority of Malaysians.
What if the crisis continues for up to three years? The DPM said the government is preparing for worst-case scenarios, particularly following supply chain shocks linked to the Strait of Hormuz, which handles about a quarter of global energy supply.
He said Petronas has taken proactive steps to secure alternative supplies from Asia-Pacific, Australia, South America and Africa, while enforcement is being ramped up at the country’s borders to stymie the smuggling of subsidised fuel out of Malaysia.
“This cannot be done by the government alone. Public cooperation is crucial. If there is abuse, report it so supplies benefit our people, not others. Equally important is the prudent use of energy and water. If we act together, we can ensure supply security is sustained over the longer term,” Fadillah said.
Looking to sell your car? Sell it with Carro.
Hello..did I read correctly?
We r in fact, not buying petrol,diesel derived from crude oil from down under.In fact their PM came to buy a shipload or two from petronas if possible.
We may be buying other crude oil derivatives from Kangarooland.
So far the WFH has not shown much results.
Once the gun goes quiet,time for PMX to work on other alternatives and build a huge oil stockpile like Japan,just incase Trump starts intervening in Taiwan.
Understand the difference between crude and types of crude vs processed products such as petrol and diesel.
Crude produced from different places is different, eg. Middle East mostly produce Heavy Sour crude while Malaysia is mainly Light Sweet Crude. Majority of Malaysia processing facilities are designed mainly to process the originally cheaper Heavy Sour type crude. Switching to other crude may not be straight forward as need to change the process and/or equipment and throughput will be different.
Liberate EV sector & 30% fuel tax ?
MITI said they dont control or manipulate car prices.
But then BYD not allowed to sell BYD Seagull RM56K here.
Hidden due to lowcomment rating. Click here to see.
What isn’t fake is that your childish immature mind can’t recognise what is subsidy.
RM1.50/L, wow lets go brunei dude, ini kalilah
If fuelvprice is a concern to you, then you’re clearly not in the target market. It’s really that simple.
Government always shows data about petrol subsidy spending. Maybe government should be transparent to show the data on our income derives from oil & gas industries as well ?
They only want to show the part or “con” that justify their actions. Simple as that.
They aren’t showing you the fuel excise in price either. This applies whether it’s Budi95 or not. About 18 years ago when petrol price jumped up after being stagnant around RM 1.20 – RM 1.30 for years, a few stations terbongkar how they arrived at the new price by publishing the excise duty in their price tables. Of course after a few days those signs disappeared and those station owners were reprimanded. So just remember, every litre of petrol/diesel you pump, gomen still getting a cut. The math for this and so many other things in this country just doesn’t add up.
if US tries to control Straits of Malacca, it will be worst.
rogue nation already eliminated leaders of six oil producing nations – al asad , khomeini, maduro, binladen, gaddafi, saddam.
malaysia also produces oil so PMX better bend the knee to MAga and Zion if he wants to remain PM .
Government shouldn’t just take the burden on the oil price hike caused by USA and Israel. Meanwhile you should promote Malaysian not to waste petrol eg those fella turn on their car just to enjoy aircond and those wouldn’t want to walk for few meter and they prefer to drive there even if it’s just within few minutes walk. Some would argue not much impact for these measure but we must think long term and the number of cars does this on daily basis, it will add up. Furthermore it is healthier for Malaysian to walk for few minutes instead of drive or ride motor, no?
Nothing wrong with subsidies if target properly.
This is for good of the people – they have to travel to work and conduct businesses.
The government and the “economists should focus to cut cost and spending – freezing salaries, hiring and wasteful expenditures – just look at the yearly budget on government supplies and remuneration, it is real BIGGGGGG. .
Please start cutting those first.