M'sia can maintain subsidised RON95 price for 1 to 2 months amid the Iranian conflict: Anwar

Malaysia can still maintain the subsidised RON95 petrol price at RM1.99 (S$0.64) per litre for up to two months, said Malaysian Prime Minister Anwar Ibrahim.

He warned, however, that the prolonged closure of the Strait of Hormuz could cause an "unprecedented economic crisis", The Star reported.

Everyone, including the public and private sectors, must be "wary of the ongoing conflict in Iran", Anwar added.

Monitoring situation

Speaking to reporters on Mar. 6, 2026, Anwar said: "We will monitor this situation because so far, we can still hold off for one or two months."

Noting that the early signs were not good or pleasant, he added: "So, I urge everyone, including the civil service, workers and businesses to be wary of this situation.

"Do not take this lightly."

Subsidised price

Malaysia's economy minister had also previously said Malaysia's government would maintain the subsidised RON95 price despite rising global oil prices, according to New Straits Times.

He added that though conflicts typically trigger sharp spikes in crude oil prices, the government safeguards domestic market stability by continuously monitoring key indicators, including petroleum and gas prices.

Strait of Hormuz

However, noting that the vessels stuck at the Strait of Hormuz will have an effect on trade and the economy, Anwar said: "It will also lead to higher transportation costs as vessels are taking a longer route."

About 30 per cent of the world's oil flows through the Strait of Hormuz, located between Iran and Oman.

Since the U.S.-Israeli strikes against Iran, the Iranian Revolutionary Guard Corps has threatened to attack ships passing through the Strait.

According to The Guardian, ship traffic through the Strait has fallen by 80 per cent amidst the widening conflict.

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