Johor bahru: Malaysia is the only country in the region that has not implemented fuel rationing, despite a global supply crisis, Prime Minister Datuk Seri Anwar Ibrahim announced. He highlighted that several neighboring countries in Southeast Asia have adopted such measures, with some even resorting to closing up to 400 petrol stations due to fuel shortages.
According to BERNAMA News Agency, RON95 petrol in Malaysia is provided at one of the lowest costs in the world at RM1.99 per litre. While diesel prices remain high, special concessions have been made for farmers, fishermen, and school buses. Anwar noted that neighboring countries are experiencing significantly higher costs for RON95, with prices reaching RM10.50, RM4, and RM6 per litre. The Malaysian government, he explained, bears billions of ringgit in subsidies each month to alleviate the financial burden on its citizens.
Speaking at a session with staff and students at the Institute of Teacher Education (IPG) Temenggong Ibrahim campus, Anwar attributed Malaysia's resilience to early measures taken by the government, including a targeted subsidy approach and strong diplomatic relations with Iran. These relationships have enabled Malaysian fuel tankers to traverse the Strait of Hormuz, a strategic advantage not afforded to all nations.
Anwar also addressed the issue of fuel smuggling, a consequence of Malaysia's low fuel prices. He revealed that the Cabinet decided to increase the number of police and enforcement officers to monitor and secure the country's borders, aiming to curb the high volume of smuggling cases that are causing significant financial losses.
In his briefing to various government officials, Anwar emphasized the importance of understanding the current economic and geopolitical climate, urging the public to remain informed and cautious of misinformation on social media.
The global supply crisis has also prompted Australia to request diesel supplies from Malaysia, Anwar disclosed following discussions with Australian Prime Minister Anthony Albanese during a recent official visit. Although Malaysia does not have a diesel surplus, Anwar indicated that any excess could potentially be exported to Australia, aligning with the strong bilateral relations between the two nations. Malaysia also imports phosphate fertilizer for Felda farmers from Australia, underscoring the collaborative economic ties between the countries.