Prime Minister Dato’ Seri Anwar Ibrahim has assured Malaysians that the price of RON95 petrol will not be increased, despite earlier discussions about a potential hike. The fuel price will most likely remain at RM2.05 per litre, and a gradual reduction might even be possible.

“Prices may even be reduced, but this is subject to the market condition”, said the prime minister.

Speaking at the PKR National Congress 2025 on May 24, Anwar expressed his disagreement with suggestions to raise petrol prices for the public. However, he emphasized that this subsidy should not extend to everyone.

Anwar pointed out that an estimated four million foreigners living in Malaysia are currently benefiting from fuel subsidies that cost the government between RM3 billion and RM4 billion annually. With the data findings, local daily Berita Harian reported that fuel prices for foreigners may be adjusted to reflect more realistic market rates.

“You might need to show your IC,” Anwar said, suggesting that Malaysians could soon be required to present their identification cards when purchasing RON95 petrol.

This move is intended to ensure that only eligible citizens benefit from the subsidised fuel price.

Anwar also emphasized on the need to stop fuel subsidies for the country’s wealthiest individuals. He noted that no country in the world provides petrol subsidies to the ultra-rich, especially those who can afford luxury vehicles.

“There is no country that subsidises petrol for the top 5% of the richest people. Yet, this five percent group is asking us to protect their interests so they can continue enjoying subsidies,” he added.

In addition to fuel pricing, Anwar announced that the government would review subsidies related to gas and liquefied natural gas (LNG) to ensure a more efficient and fair distribution of public funds.

He also mentioned the need to re-evaluate the e-Invoice system. According to him, it is crucial to prevent revenue loss for the country. “We will study the e-Invoice. It is very important for the country not to lose revenue,” he said, as reported by Berita Harian.

As the government looks to refine its subsidy policies, the focus remains on protecting the interests of everyday Malaysians while curbing unnecessary spending on those who do not need assistance.