PUTRAJAYA, March 11 — Malaysia’s petrol supply remains under control and is sufficient at least until May 2026 despite turmoil in global oil markets triggered by the ongoing conflict in the Middle East, Prime Minister Datuk Seri Anwar Ibrahim said today.
Anwar said checks with national oil company Petroliam Nasional Berhad (Petronas) showed that supplies of petroleum products in the country remain adequate for the coming months.
“Malaysia’s oil supply security remains under control. When we reviewed the situation with Petronas in particular, we found that supplies of petroleum products are sufficient at least until May 2026,” he said at a special press conference, which was broadcast live on his Facebook page.
The assurance comes as global energy markets remain volatile following disruptions to shipping in the Strait of Hormuz, a key route for oil exports from the Gulf.
Anwar said that Brent crude prices surged to as high as US$119 (RM467) per barrel on March 9 before easing to around US$90 per barrel yesterday amid the ongoing conflict in the region.
Despite the sharp price swings, he said Malaysia remains in a relatively strong position due to stable supply management and coordination with Petronas.
He also stressed that effective governance and professional management were key to ensuring the country’s energy security during periods of global uncertainty.
The prime minister added that the government will continue to shield Malaysians from the full impact of rising global oil prices by maintaining the subsidised price of RON95 petrol under the Budi Madani programme at RM1.99 per litre.
“This is a difficult decision but we will maintain the price at RM1.99 per litre even though the market price is much higher,” he said.
Anwar said the government has also set up several committees to closely monitor the situation, including enforcement efforts to curb fuel smuggling and a panel to assess the daily economic impact of global price movements.
