KUALA LUMPUR: Malaysians will soon enjoy RON95 petrol at a reduced price of RM1.99 per litre under a targeted subsidy scheme, with further details to be announced by the end of Sept 2025, says Datuk Seri Anwar Ibrahim.
In a televised address, the Prime Minister stated the government's commitment to optimising national subsidy spending to ensure that ordinary Malaysians benefit from subsidies while curbing leakages to those who are not eligible.
"Once the targeted RON95 subsidy is implemented, the government will reduce the price of RON95 petrol to RM1.99 per litre exclusively for Malaysian citizens, while foreign nationals will have to pay the unsubsidised market price," Anwar said in a special announcement aired live on his social media platforms on Wednesday (July 23).
According to Anwar, who is also the Finance Minister, the initiative will benefit around 18 million motorists, including youths as young as 16 and gig economy workers.
"In 2023 and 2024 alone, subsidies for RON95 were estimated to cost nearly RM20bil annually.
"Even this year, despite a drop in global oil prices, the unsubsidised price of RON95 remains around RM2.50 per litre, significantly higher than the subsidised rate Malaysians currently enjoy," he explained.
Anwar clarified that the move aims to ensure that ordinary citizens continue receiving fuel subsidies while addressing leakages to ineligible groups, including foreigners.
Foreign nationals, however, will have to pay the full market rate without any subsidies, he emphasised.
Anwar reaffirmed the government’s commitment to optimising national subsidy spending by ensuring benefits are directed to those who need them most while minimising waste and abuse.
