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THE government will continue to maintain the price of RON95 at RM1.99 per litre despite the increase in Brent crude oil prices following geopolitical tensions in West Asia.
Economy Minister Akmal Nasrullah Mohd Nasir stressed that there is no need to make drastic changes to domestic fuel price policies, including taking into account the situation in neighbouring countries.
He explained that the commitment is in line with the assurance of Prime Minister Datuk Seri Anwar Ibrahim that the domestic price of RON95 will not be affected despite fluctuations in global oil prices.
“Yes, the commitment from the Prime Minister (Datuk Seri Anwar Ibrahim) is very clear. But, of course, at this time, the market is changing.
"So, for the Ministry of Economy, we are closely monitoring what is happening. For us now, we are maintaining the status quo," he said.
According to him, the Ministry of Economy is constantly monitoring the movement of Brent crude oil prices to ensure that the commitment can be implemented effectively.
"We know that in Malaysia, we have implemented targeted subsidies, which we are still maintaining prices reasonable to the people through existing mechanisms,” he said.
Explaining further, he said that any increase in global crude oil prices has the potential to have implications for the country's petroleum subsidy allocation.
Akmal Nasrullah explained that this aspect is being studied in detail by the Ministry of Finance (MOF), especially in terms of spending commitments and the impact on the government's fiscal position.
On Monday, it was reported that oil prices jumped about seven per cent to their highest level in several months on Monday as Iran and Israel stepped up attacks in the Middle East, damaging tankers and disrupting shipments from the major producing region. – March 3, 2026
