Anwar: Fuel prices cannot go any lower, billions spent on subsidies

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Anwar: Fuel prices cannot go any lower, billions spent on subsidies
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PETALING JAYA: Fuel in Saudi Arabia is more expensive than those in Malaysia and it isn’t feasible to introduce additional subsidies to bring down fuel prices in our country, says Prime Minister Datuk Seri Anwar Ibrahim.

At present, he said between RM30bil and RM40bil was spent in subsidies to keep fuel prices at RM2.05 per litre.

The Prime Minister was speaking at the Majlis Ramah Mesra Madani event at Universiti Teknologi Petronas at Seri Iskandar, Perak, on Sunday.Anwar acknowledged criticisms over his previous election campaign promise in 2008 to bring down fuel prices.“That was in 2008, where the oil prices in Saudi Arabia were 50 cents per litre, which was RM1.80 at that time,” he added.Last month, Anwar told Parliament that fuel prices could not be lowered due to the current crude oil prices.

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