INTERACTIVE: The rising cost of keeping Malaysia's petrol prices steady
By SHYAFIQ DZULKIFLI PETALING JAYA: Soaring oil prices have led to a sharp rise in subsidies that the government has had to bear to keep petrol pump prices steady for Malaysians. Since the start of this year, the price of unsubsidised RON95 petrol has gone up by 76.6% from RM2.56 to RM4.52 as at Oct 1. Ahead of the tabling of Budget 2027 on Friday (Oct 9), we take a closer look at how the surge in global oil prices has affected - and may continue to affect – Malaysia’s fuel subsidy bill. Steep climb since the Iran conflict The government launched the Budi Madani RON95 (BUDI95) programme in September last year as part of its move to transition from blanket subsidies to targeted subsidies. Under the initiative, eligible Malaysians currently qualify for 300 litres of subsidised RON95 petrol each month at RM1.99 per litre. The start of the Middle East conflict in late February then triggered a sharp spike in global oil prices. A gro...