RON95 price will not be raised, assures Anwar

The Star

6 hours ago

ISKANDAR PUTERI: The price of RON95 petrol will not be raised, even if there is a sharp increase in global crude oil prices due to geopolitical tensions involving Iran and Israel, assures the Prime Minister.
Datuk Seri Anwar Ibrahim said that although the price increase benefits the national petroleum company, the government aims to avoid burdening the people with higher fuel costs.
Any future adjustments will be made carefully, taking into account the needs and financial capacity of the people, he told a press conference after a closed-door meeting with Johor PKR leaders and members.
The price of RON95 for June 19-25 remains RM2.05 per litre.
Anwar said the recent increase in global oil prices is due to sudden changes in the international market, despite prices previously remaining at relatively low levels.
He said fluctuations in oil prices are a common occurrence, but the latest spike was particularly abrupt, triggered by the recent Israeli military assault on 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.
The Prime Minister also said that a detailed explanation will be provided regarding the implementation of the review and expansion of the Sales and Service Tax (SST) scope which will take effect on July 1.
He said the government acknowledged there has been confusion regarding the implementation, but gave assurance that the government's initiatives will not burden the lower-income group or the M40.
'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.
'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,' he said.