KUALA LUMPUR – As global oil prices surge and tensions in West Asia disrupt one of the world’s most critical shipping routes, Malaysia has moved to calm public fears by guaranteeing both fuel supply and price stability.
Prime Minister Datuk Seri Anwar Ibrahim today announced that the price of Budi95 petrol will remain fixed at RM1.99 per litre despite market prices rising well above actual costs.
Speaking at a special press conference, Anwar assured Malaysians that the nation’s fuel reserves remain secure and that petroleum supplies are sufficient until at least May 2026, even as the ongoing conflict involving Iran threatens global energy flows.
Anwar said that although the decision was difficult, the government’s priority is to protect the interests of the people.
“Right now, more than 400 oil tankers have been stranded and 3,000 other cargo ships are affected due to the closure of the Strait of Hormuz.
“On March 9, Brent crude oil reached US$119, before dropping slightly yesterday to around US$90 per barrel.
“This is a sharp increase that affects the economy. However, thanks to the management of Petronas and the country’s energy planning, we are able to guarantee fuel supply and maintain the price of Budi95 at RM1.99,” he said.
At the same time, Anwar also announced that a Special Cabinet meeting will be held this Friday to discuss the impact of the West Asian conflict on Malaysia.
According to the prime minister, the meeting will also monitor the country’s fiscal position and determine the direction and next steps that need to be taken.
“We have gone through crises before, and we are confident that with cooperation from all parties, including the government and the private sector, we will be able to handle this situation well,” he said. – March 11, 2026