PUTRAJAYA, 7 March 2026 – Malaysia’s government will attempt to keep the price of RON95 petrol stable despite rising global oil market uncertainty caused by the escalating Middle East conflict, Prime Minister Anwar Ibrahim said.
Speaking to reporters after Friday prayers in Putrajaya, Anwar acknowledged that geopolitical tensions are already beginning to affect global energy markets and supply routes, but assured Malaysians that the government will try to maintain the subsidised RON95 price at RM1.99 per litre for now.
Government Monitoring Global Oil Developments
Anwar said the government is closely monitoring developments in the Middle East and their impact on global energy supply chains.“In the current situation, it appears to still be under control,” he said, adding that more than 200 oil and gas vessels are currently stuck near the Strait of Hormuz, a key global shipping route for crude oil and fuel products.
The disruption could have ripple effects on international trade and logistics, as shipping companies may be forced to take longer routes, increasing transportation costs.
RON95 Price Can Be Maintained for Now
Malaysia currently caps the price of subsidised RON95 petrol at RM1.99 per litre, a key component of the government’s effort to shield consumers from volatile global fuel markets.
Anwar said the government believes it can maintain the current price level for at least one to two months, depending on how the geopolitical situation evolves.
However, he cautioned that the early signs in global markets are “not very good or reassuring,” warning that a prolonged conflict could trigger broader economic consequences.
Potential Economic Impact
The prime minister also warned that extended disruption to energy shipping routes could eventually lead to:
- Higher transportation costs
- Rising import prices
- Increased pressure on businesses and small enterprises
He urged Malaysians, including civil servants, businesses and workers, to remain cautious in spending and business decisions while the situation unfolds.
“Do not take this lightly,” Anwar said, noting that a prolonged crisis could escalate into a wider economic challenge for the region.
“In the current situation, it appears to still be under control,” he said, adding that more than 200 oil and gas vessels are currently stuck near the Strait of Hormuz, a key global shipping route for crude oil and fuel products.
Energy Markets Under Pressure
The Strait of Hormuz is one of the world’s most critical oil chokepoints, handling a large share of global crude exports. Disruptions in the region have already sparked volatility in global energy markets and could eventually feed into higher retail fuel prices across Asia.
For Malaysia, maintaining the RON95 subsidy remains a key policy tool to cushion consumers from global price swings and manage the cost-of-living pressures faced by households.
