At a special press conference, Anwar said Malaysia has a sufficient supply of the petrol to maintain the subsidised price at least until May.

“On March 9, the price of crude oil surpassed US$100 per barrel, and yesterday it reduced slightly to about US$90 per barrel.

“But thanks to Petronas and the government’s management, we can ensure sufficient supply of RON95 petrol and maintain the price of RM1.99 per litre under Budi95.

“This is something to be very proud of, because when we checked with Petronas, we found that the supply of petroleum products is sufficient to last until May 2026 at least,” said Anwar, who is also finance minister.

Anwar vowed that the government’s priority was the people’s welfare and to protect Malaysians from the full impact of the rise in prices of oil and other essential goods.

“(The price of RM1.99) is very different from the price in the market. The actual price is far higher, especially compared with our neighbouring countries, it’s triple our price,” he said.

On March 1, Anwar said the government would try to maintain the price of RON95 petrol at RM1.99 per litre for Malaysians despite global market uncertainty following the US-Israel attacks on Iran.

He said Malaysia would be affected by the increase in global oil prices following disruptions to the crucial Strait of Hormuz shipping route, but that the government was determined to maintain the subsidised price of RON95 under the BUDI95 programme.