Malaysia vows to hold petrol prices as oil hits US$100 a barrel amid Iran war
Malaysia’s prime minister guarantees citizens that RON95 petrol will remain at 1.99 ringgit despite the US-Israel war on Iran
“We will do our best to ensure the price of RON95 remains at 1.99 ringgit so that the rakyat (common people) are not burdened,” he said at the Domestic Trade and Cost of Living Ministry’s monthly assembly in Kuala Lumpur.
The pledge comes as the Middle Eastern conflict has rattled global energy markets.
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How US-Israeli strikes on Iran are sending shock waves through global energy markets
Hundreds of tankers were already facing delays, he said, with knock-on effects rippling through transport and logistics costs worldwide.
“If the Strait of Hormuz is affected or closed, the impact on global supply and transportation costs will be significant,” he said.