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Malaysia Fuel Subsidy Bill May Reportedly Reach $9.8 Billion on Strong Energy Prices

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Malaysia's spending on fuel subsidies could reportedly hit 40 billion Malaysian ringgit ($9.84 billion) this year due to higher energy prices, more than double the annual budget of 15 billion ringgit, according to media outlets on Wednesday, citing Prime Minister Anwar Ibrahim.

Following the onset of the US-Iran war in late February, fuel subsidies reportedly climbed to about 5 billion ringgit per month in March and April, from around 800 million ringgit per month in January and February.

Eligible Malaysians can buy RON 95 petrol and diesel at subsidized prices of 1.99 ringgit per liter and 2.10 ringgit per liter, respectively.

The prime minister reportedly said fuel supplies in the country are currently sufficient.

has reached out to the prime minister's office to seek further information about the projected spending as prices return to pre-war levels.

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