Prime Minister Anwar Ibrahim assures sufficient petroleum supply until May 2026, with measures in place to control prices and curb smuggling amid global tensions.

PUTRAJAYA: Malaysia’s petroleum supply remains secure, with stocks projected to last at least until May 2026, Prime Minister Datuk Seri Anwar Ibrahim said today, as the nation braces for potential ripple effects from escalating tensions in West Asia.

Anwar assured Malaysians that despite global oil and gas disruptions caused by the Iran conflict, the country’s fuel security is “under control,” thanks to proactive management by Petroliam Nasional Berhad (Petronas).

“This is a difficult decision but necessary to protect the people.

“Market prices are significantly higher, especially compared with neighbouring countries, where prices can be three times higher,” he said at a press conference here.

He added that the price of Budi Madani RON95 will be maintained at RM1.99 per litre, a measure aimed at shielding consumers from rising international oil costs.

The prime minister also highlighted ongoing enforcement measures to safeguard domestic fuel supplies.

“For example, diesel prices are controlled in Peninsular Malaysia and remain unchanged in Sabah and Sarawak.

“This situation could enable large-scale smuggling.

“Therefore, I have tasked the deputy prime minister, together with the Domestic Trade and Cost of Living ministry, to ensure stricter monitoring and firmer action against those attempting to take advantage of the situation and smuggle fuel.”

Anwar added that a special task force, comprising the Finance Minister, Economy Minister, and other relevant ministers, will also review the economic impact daily to provide real-time guidance to the government.

He said that the government remain vigilant and will continue to monitor developments in West Asia and assess how the situation evolves.

 The Sun Malaysia