KUALA LUMPUR: Malaysia’s refined fuel consumption is projected to grow at a much slower pace than anticipated over the next 10 years, averaging at around 1.5 per cent through 2023 to 2032.
BMI, a unit of Fitch Solutions, said although an improving economy together with ongoing fuel subsidies was contributing to a recovery in fuel consumption, fuel demand faces downside pressures from high global oil prices and energy transition initiatives.
