Kuala lumpur: The price of RON95 petrol has been reduced to RM1.99 per litre, down from RM2.05 per litre, effective September 30, through targeted subsidies under the BUDI MADANI RON95 (BUDI95) programme. Prime Minister Datuk Seri Anwar Ibrahim made the announcement during his monthly meeting with staff of the Prime Minister's Department.
According to BERNAMA News Agency, Anwar, who also serves as the Finance Minister, stated that all Malaysian citizens with a valid driving licence are eligible for the RON95 subsidy. Based on data from the Road Transport Department (JPJ) and the National Registration Department (JPN), it's estimated that over 16 million people qualify for the subsidy.
The Prime Minister emphasized that these benefits serve as an appreciation and recognition of the spirit of National Day and Malaysia Day, and as a gesture to honour all Malaysians. Starting September 30, non-citizens and large companies will no longer be eligible for the subsidy and will have to pay the non-subsidised price of approximately RM2.60 per litre.
Malaysians will be entitled to a monthly BUDI95 subsidy of 300 litres, with e-hailing drivers able to apply for a higher value. Anwar announced that police and military personnel will begin enjoying the RM1.99 per litre price from Saturday, ahead of the official implementation date, while the B40 group, recipients of the Rahmah Cash Contribution (STR), will start benefiting from the subsidised price from Sunday.
Anwar explained that there is no registration required for BUDI95, and Malaysians need only use their MyKad to enjoy the subsidised rate. MyKad reader machines will be installed at shops and petrol pumps to ease congestion, and the public is reminded to ensure their MyKad chips are functional and their driving licences are valid.
For those who are digitally savvy, alternative payment options such as Touch 'n Go and oil company applications like Petronas' Setel are available, eliminating the need to use MyKad for every transaction. Anwar highlighted that Malaysia is the only country taking such a bold step to reduce fuel prices amid current global economic uncertainties.
To illustrate the point, Anwar compared Malaysia's petrol prices with other countries, noting that even in Saudi Arabia, a major oil producer, the price is RM2.61 per litre. He stated that Malaysia's petrol prices remain among the lowest, with only Brunei offering a slightly lower rate.
The Finance Ministry will provide further clarification and details on the targeting mechanism for the RON95 subsidy in the coming days.