PUBLISHED ONMay 26, 2026 1:27 PMBYSean LerMalaysia's Prime Minister Anwar Ibrahim on Tuesday (May 26) assured Malaysians that the country's fuel supplies remain stable and that subsidied Ron95 petrol will remain priced at RM1.99 (S$0.64) per litre.
He made these assurances at a handover ceremony of sacrificial cattle for korban at the Seberang Perai Tengah District Mosque in Penang.
In his speech, Anwar attributed the adequacy of fuel supplies to Malaysia's good relations with several countries, including Iran, which he said helped ensure smooth oil supply through the Strait of Hormuz.
"Our good ties with Iran have helped to ensure sufficient fuel supply so far, at least until July. Diesel supply is also stable for now, although there were slight disruptions earlier, and the price went up a little as insurance costs and shipping charges went up," the prime minister explained.
"That good relationship has helped us. When Iran was attacked by Israel, we expressed our sympathy, and later, when we faced difficulties with our oil tankers passing through the Strait of Hormuz, we became among the first to be allowed to pass through the Strait and arrive in Pengerang," Anwar added.
He also said his government remains committed to maintaining the price of subsidised Ron95 petrol at RM1.99 per litre.
For the period between May 21 and 27, Malaysia's Finance Ministry raised posted prices for unsubsidised Ron95 and Ron97 petrol by 20 cents and 15 cents, respectively, to RM4.07 and RM4.85.
The price of diesel also rose by 10 cents to RM4.97 per litre.
In a statement, the ministry attributed the hikes to "significantly increased" logistics costs and insurance premiums due to the risk of shipping through conflict zones, thus putting pressure on petroleum product prices.
The ministry is expected to release its latest fuel prices for the period of May 28 to June 3 on Wednesday.
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