Petronas urges efficient energy use and warns against panic buying as global oil prices and shipping costs surge due to the West Asia conflict.
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) is closely monitoring Malaysia’s fuel supply to safeguard national stability during the ongoing West Asia crisis.
The national oil company strongly advocates for more efficient energy consumption by both industry and the public.
It advises the public to avoid panic buying and hoarding fuel, warning such actions would worsen the crisis impact.
Petronas stated that Malaysia is not fully insulated from the crisis despite being an oil-producing nation.
Nearly 40% of the country’s crude oil requirements transit through the Strait of Hormuz.
“Since the onset of the crisis, crude oil prices have risen by almost 40%,” it said.
Consequently, global shipping costs, insurance premiums and delivery-related logistics have also increased significantly.
“All these developments have impacted Malaysia’s fuel supply security,” the company added.
On the product side, national demand continues to exceed domestic supply.
Petronas leverages its integrated value chain through subsidiaries to secure sufficient petrol and diesel supply.
This supports its market share of nearly 50% up to May 2026, with the balance supplied by other oil companies in Malaysia.
Despite global pressures, the government provides subsidies for RON95 and diesel to cushion the impact.
This makes fuel prices in Malaysia currently among the lowest in the region.
“Petronas will continue to work closely with the government and relevant stakeholders to manage any potential disruptions,” it said.
The company added it will prioritise the nation’s energy security and well-being.
