KUALA LUMPUR: The Natural Resources and Environmental Sustainability Minister has given his assurance that the introduction of Euro 5 petrol in September next year will not lead to an increase in fuel prices.
Nik Nazmi Nik Ahmad said that its implementation requires investment from oil companies, as it is a continuous step to upgrade fuel specifications, in addition to maintaining the country's air quality.
"The price of fuel, however, will be influenced by the government's planned system, which includes the targeted subsidy for RON95 petrol set for mid-2025,” he said.
"This initiative is primarily aimed at controlling carbon emissions and improving fuel quality. In terms of prices of fuel, there is no direct connection between the price of petrol and this shift," he told reporters, after attending the signing ceremony of the memorandum of understanding between Beverly Group, Samjung Tech and Parktech Solutions, here on Thursday (Nov 14).
Nik Nazmi added that the improvement of fuel quality is an ongoing process, similar to the previous implementation of Euro 5 diesel.
On Wednesday (Nov 13), Nik Nazmi announced that Malaysia will begin implementing the use of Euro 5 petrol in September next year, with full compliance expected by 2027.
This move is part of a long-term strategy to safeguard the nation’s air quality.
In a separate development, he emphasised that Malaysia cannot reject the use of rare earth elements, particularly for electric vehicles and renewable energy, but stressed that their management must be done meticulously and responsibly.
"Looking at the rare earths in our country so far, there are no radioactive elements. The initial concern is about Lynas, but even then, it is carefully controlled, through a licence issued by the Atomic Energy Licensing Board (AELB),” he said.
Regarding the transition to electric vehicles and the use of renewable energy, Nik Nazmi acknowledged the need for rare earths, but reiterated that their use should be carefully balanced and strictly regulated.
He added, "While I agree there are side effects, I do not support completely avoiding the use of these materials.”- Bernama
