KUALA LUMPUR: Malaysia’s domestic fuel stocks remain sufficient to meet national demand through April and May, even as global energy markets face heightened volatility and strategic maritime corridors encounter significant disruptions, says Datuk Seri Anwar Ibrahim.
Speaking to reporters after performing Friday prayers in the capital yesterday, the Prime Minister confirmed that the country’s petroleum supply remains stable.
According to him, the Cabinet is conducting daily monitoring of the situation to ensure economic stability.
“The fuel supply for April and May appears to be in a controlled state. Beyond this, there is enforcement in place to oversee the overall situation.
“The Cabinet monitors developments every day to ensure things are better managed given the present economic conditions,” he said.
The assurance follows concerns over seven Malaysian-owned vessels previously stranded in the Strait of Hormuz.
Following a briefing from PETRONAS president Tan Sri Tengku Muhammad Taufik, the Anwar confirmed that the fleet is now navigating the strategic waterway in stages.
The bottleneck was sparked by heightened tensions between Iran and the United States-Israel alliance.
“Alhamdulillah, all have been released. One is on its way to its destination and six others have been granted approval while awaiting their turn to set sail,” he said, adding that the Iranian Ambassador to Malaysia had previously assured that the vessels would be permitted to transit in phases.
Addressing the sustainability of fuel subsidies, the Prime Minister affirmed the government’s intention to maintain the current price of RON95 petrol.
Despite global price surges placing significant financial pressure on the national treasury, he emphasised that public welfare remains the primary priority.
“There have been questions about whether we can sustain RON95. Thus far, we are striving to defend the price of RON95.
“Although it is somewhat of a burden on the government in terms of financial pressure, I believe it is important that we reduce the burden on the people.
“In return, we ask for cooperation to avoid excessive consumption. Every individual has a responsibility to help save the national economy,” he said.
Anwar also confirmed that diesel subsidies would continue to prevent further inflationary pressure, with targeted assistance already being provided to farmers and fishermen.
Furthermore, he expressed his gratitude to the Sultan of Selangor for the state’s proactive stance, adding that local sermons had clarified the nature of the energy crisis and encouraged special prayers for the nation’s continued stability.
