PUTRAJAYA: The price of RON95 petrol under the Budi95 targeted fuel subsidy mechanism will remain at RM1.99 per litre despite its market price rising three-fold at present, says Datuk Seri Anwar Ibrahim.
The Prime Minister said this was decided following the Cabinet meeting on Wednesday (March 11).
“I told the Cabinet to maintain the price of Budi95 for the people. It is a difficult decision.
“But, RON95 will be maintained at RM1.99 per litre even though market prices are far higher,” said Anwar during a special press conference at the Prime Minister’s Office on Wednesday (March 11).
Anwar said checks with PETRONAS found that Malaysia had enough petroleum to weather the country through the economic certainty until May this year.
“Surely, it is a different situations for many other countries,” he added.
At the same time, Anwar said on March 9, Brent crude oil prices spiked above US$119 per barrel and most recently on Tuesday (March 10), it is priced around US$90.
“This is a drastic increase which could cause economic effects, especially to countries importing and producing oil.
“But, thanks to the management of PETRONAS and the country, we were able to ensure adequate fuel supplies and maintain the price at RM1.99 per litre,” he said.
Meanwhile, Anwar said Deputy Prime Minister II Datuk Seri Fadilah Yusof will chair a committee to address diesel smuggling activities in Sabah and Sarawak.
“I have instructed the DPM to work with the Domestic Trade and Cost of Living Ministry to ensure thorough monitoring and sterner action against those who tried to take advantage and smuggle (diesel)," he said.
At the same time, Anwar said a spcial committee will be chaired by Finance Minister II Datuk Seri Amir Hamzah Azizan, where he will look into the economic impacts of the Iran conflict with the Economy Minister and related Ministers.
“So, the daily economic impact can be informed to the government leadership,” he added.
Also present during the press conference by government spokesman and Communications Minister Datuk Fahmi Fadzil.
Fahmi said the special committee chaired by Amir was decided on Tuesday (March 10) and it will be activated on Thursday (March 12).
“Their findings will be tabled in a special Cabinet meeting this Friday,” he added.
Earlier, Anwar said a special Cabinet meeting will take place this Friday (Mach 13) to discuss latest global developments on the Iranian conflict.
