20th June 2025 - 2 min read
The government will not raise the price of RON95 petrol, even in the event of a sharp rise in global crude oil prices caused by ongoing tensions between Iran and Israel, the Prime Minister has confirmed.
Datuk Seri Anwar Ibrahim stated that while higher oil prices may bring increased revenue to the national petroleum company, the government is committed to shielding the public from the impact of rising fuel costs.
Speaking at a press conference, Anwar emphasised that any future changes to fuel pricing will be approached with caution and consideration for the public’s financial wellbeing.
For the period of 19 to 25 June, the RON95 petrol price remains fixed at RM2.05 per litre.
According to Anwar, the recent surge in global oil prices stems from abrupt shifts in the international market, which had previously experienced a stretch of relatively stable pricing.
He noted that while fluctuations in oil prices are not unusual, the latest increase has been particularly sudden, spurred by Israel’s recent military actions against Iran.
“Oil prices go up and down. The increase this time has been quite sharp. This hike is partly due to increased demand and contributes to national revenue. However, we are not raising domestic fuel prices,” he said.
Anwar also addressed concerns surrounding the expanded scope of the Sales and Service Tax (SST), which is set to be implemented on 1 July. He acknowledged public uncertainty over the changes and promised a thorough explanation from the government.
He assured that the new measures would not place undue strain on lower-income individuals or the M40 group.
“We will give an explanation. Sometimes, general statements, such as saying bananas will be subjected to SST, cause confusion. Actually, it refers to imported bananas,” he said. “But I agree we need to clarify this because what is important is that we do not want to burden the lower-income group or the M40.”
(Source: The Star)
Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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