Oil price impact on subsidy rationalisation

"The government could modify the pace and the way at which it rationalises the subsidies," said Universiti Tunku Abdul Rahman economics professor Wong.

PETALING JAYA: Should Brent crude oil prices reach US$100 per barrel, the government could opt to implement the planned petrol and diesel subsidy rationalisation initiative on a more staggered basis, says Universiti Tunku Abdul Rahman economics professor Wong Chin Yoong.

The Iran-Israel conflict that erupted last weekend continues to pose uncertainties on the oil price front. Global focus is now on Israel’s reaction to the conflict in the days and weeks ahead, as it will likely further influence market dynamics.