BINTULU: The memorandum of understanding (MOU) on a peace agreement between the United States and Iran is one of the factors contributing to the decline in fuel prices, says Prime Minister Datuk Seri Anwar Ibrahim (pic).
"Today, I announced the targeted subsidised diesel, not to increase but to decrease the price of diesel even though the situation is uncertain.
"So far, Pakistani Prime Minister Shehbaz Sharif, who has been coordinating much of the negotiations, told me that this time he is confident that the crisis in the Middle East can be eased. So this will help us in terms of diesel prices," he said when officiating a cheque handover ceremony following the conversion of Bintulu Port's status from a Federal to a State port here on Sunday (June 21).
Anwar, who is also Finance Minister, said the Madani government would reduce the price of subsidised diesel for Malaysians to RM2.10 per litre starting July 2026.
He said this was implemented through the reform of targeted diesel subsidy in line with the approach used through the Budi Madani RON95 (Budi95) programme, with verification using MyKad.
He also said Finance Minister II Datuk Seri Amir Hamzah Azizan would provide an explanation on the implementation of the new subsidised diesel prices in Kuala Lumpur on Monday (June 22).
Anwar said using MyKad verification is to prevent leakages that reach billions of ringgit, in addition to stepping up enforcement.
He also explained that the targeted subsidised diesel in the Peninsula was slightly delayed compared to Sabah and Sarawak, since both states recorded high diesel consumption.
"I regret Opposition MPs in the Peninsula who criticised us, saying that we have double standards, inconsistent policies, when we want to implement them and we look at the reality – it is one nation but the usage is different.
"We have concerns, so we have to pay attention and refine the implementation so it does not burden the people," he said.
Meanwhile, Anwar said that apart from Brunei, the price of RON95 petrol in Malaysia is among the lowest in the world compared to other countries including Saudi Arabia and the United Arab Emirates, which have increased fuel prices.
Meanwhile, in another development, Anwar said the close relationship between the Federal and Sarawak governments was a key factor in the successful implementation of several strategic initiatives including the conversion of the status of Bintulu Port to a state port.
He said the cooperation established with Sarawak Premier Tan Sri Abang Johari Tun Openg enabled various issues that had been delayed for a long time to be resolved through negotiations and good understanding between both parties.
"Good relations and mutual trust between the Federal and Sarawak governments enable us to implement what have been agreed for the benefit of the people and the development of the state and the country," he said.
He also said that negotiations involving the Petronas and Petroleum Sarawak Berhad (Petros) are now in the final stages after both parties had agreed to basic principles.
The Prime Minister said any differences of opinion that arise in the negotiation process are normal in a democratic system and should not be seen as disputes that affect the relationship between the Federal government and Sarawak.
Earlier, the ceremony was also attended by Abang Johari and Deputy Prime Minister Datuk Seri Fadillah Yusof. – Bernama
