SEBERANG PERAI, March 7 — Prime Minister Datuk Seri Anwar Ibrahim has advised the public to be prudent in their spending in light of global economic uncertainty caused by ongoing international conflicts.

He said people should take precautionary steps, including saving money and avoiding wasteful spending, especially during buka puasa and the upcoming Hari Raya Aidilfitri celebrations.

Anwar said multiple conflicts around the world are affecting the global economy, including rising oil prices and higher costs of essential goods.

“Currently, the situation is still under control, but I want to remind the people to be more careful, spend wisely and try to save,” he said in his speech at the official opening of the Mengkuang Titi Mosque and Nurul al-Quran celebration here.

“During the fasting month and the coming Hari Raya, do not be overly extravagant because we do not know how long the economic situation can remain stable,” he added.

Anwar also said international conflicts are affecting global supply chains, including the rise in world oil prices.

“The war involving Iran has caused global oil prices to surge significantly, placing pressure on the global economy,” he said.

He said the government will try to maintain petroleum prices at the current RM1.99 to reduce the burden on the people.

“We hope it can be sustained, although we do not know for how long because global oil prices have nearly doubled,” he said.

He added that the situation has become more complicated as a key global trade route in the Strait of Hormuz has been disrupted after oil and gas tankers were blocked.

More than 200 large tankers carrying oil, gas and engineering equipment are currently stuck along the route, causing transportation costs to increase.

This has also affected the prices of food and fertiliser transported from countries such as Ukraine, Russia and other parts of Europe, he said.

He added that the government is holding meetings to find ways to mitigate the impact of rising costs on the public.

He reminded Malaysians to be prepared and manage their finances wisely should the global economic situation become more challenging.

“If a major economic crisis occurs, it will not be easy to resolve. That is why the people must be aware and help one another,” he said.

Recently, it was reported that the conflict between Iran and the United States–Israel alliance has continued to expand across West Asia, with new military attacks, regional security incidents, and growing humanitarian and economic impacts reported in several countries.