Malaysia’s fuel supply is expected to remain stable till July despite the tensions in the Strait of Hormuz that has affected the global supply chain, assured prime minister Datuk Seri Anwar Ibrahim.
The PM said that till now, the government has successfully ensured adequate supply of crude oil and diesel thanks to the good relationship between Malaysia and Iran, including diplomatic cooperation that has helped the country’s ships pass through the Strait of Hormuz.
“At 6pm this evening, Insya-Allah Iran president Masoud Pezeshkian will call me on the phone. This good relationship has helped ensure adequate oil supply till now. We say till July, Insya-Allah diesel is enough,” Anwar said at the handing over of sacrificial cows event for Hari Raya Haji in Bukit Mertajam, Penang two days ago, reported by TV3.
He added that although there have been slight increase in prices of goods due to the increase in insurance and freight costs following the conflict in the Middle East, the government is still keeping the price of RON 95 petrol at RM1.99 per litre.
“As far as we can, RON 95 petrol is maintained at RM1.99 per litre. Malaysia is one of the countries that has successfully offered fuel at among the lowest prices in the region,” he said, adding that the government is also continuing to offer diesel subsidy for farmers, fishermen, tractor operators, school buses and the transportation sector.
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Therefore, our oil reserves will last for two months. This level has remained stable since the end of February, notwithstanding the conflict involving Iran, Israel, and the USA.