Business, markets and economy news from Malaysia.
Prime Minister Anwar Ibrahim's recent diplomatic missions to Russia and Turkmenistan have directly contributed to the government's announcement of reduced subsidised diesel prices, according to unity government spokesman Datuk Fahmi Fadzil.
Malaysia's Finance Ministry is prepared to review the BUDI Diesel subsidy programme based on real-world usage data, following the model of previous targeted subsidy adjustments.
Malaysia's government will keep the BUDI95 petrol subsidy quota at 200 litres monthly while monitoring the US-Iran ceasefire and its effects on global oil prices before deciding whether to restore the previous 300-litre allowance.
The Malaysian government will reduce subsidised diesel to RM2.10 per litre from July 2026, bringing uniform pricing across all states. Verification through MyKad will determine eligibility for the subsidy.