Anwar Rules Out Fuel Price Hike, Says Billions Spent Monthly on Subsidies

SUNGAI PETANI, June 7 — Prime Minister Datuk Seri Anwar Ibrahim has dismissed suggestions of raising fuel prices, stressing that the government is already absorbing billions in subsidies each month to shield Malaysians from global oil shocks.

Speaking at the launch of Himpunan Rakan Muda Madani in Padang Awam Taman Keladi, Anwar noted that Malaysia continues to maintain one of the world’s lowest retail fuel prices at RM1.99 per litre despite volatile international markets.

Fuel Price Hike

He revealed that the government spends between RM3 billion and RM5 billion monthly on fuel subsidies, with costs spiking during global surges. “At certain points, the monthly subsidy bill reached about RM5 billion. Now, it is about RM3 billion to RM4 billion due to price fluctuations,” he said.

Rejecting economists’ calls to raise prices, Anwar stressed: “I will not agree to that as it will directly burden households, transport operators, farmers, fishermen and small businesses.”

#businessnews