{"id":59015,"date":"2023-10-04T17:11:01","date_gmt":"2023-10-04T09:11:01","guid":{"rendered":"http:\/\/wordpress-my-161844363.ap-southeast-1.elb.amazonaws.com\/articles\/?p=59015"},"modified":"2023-10-04T17:11:01","modified_gmt":"2023-10-04T09:11:01","slug":"anwar-petrol-price","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/anwar-petrol-price","title":{"rendered":"PM Gives His Answer On Why Petrol Prices Haven\u2019t Dropped"},"content":{"rendered":"

In an answer to critics on his unfulfilled promise to reduce the price of petrol, Datuk Seri Anwar Ibrahim, the Prime Minister of Malaysia has uploaded a video explaining why this promise can no longer be fulfilled.<\/span><\/p>\n

In a <\/span>Facebook post on the Prime Minister\u2019s Office Facebook page<\/span><\/a>, Datuk Seri Anwar Ibrahim explained that while he acknowledges that his critics are quoting his old promise to lower petrol prices, it can\u2019t be done now.<\/span><\/p>\n

He explained that during the time he made the promise 15 years ago in 2008, the petrol price in Saudi Arabia, the world\u2019s largest oil producer, was only 50 cents a litre.<\/span><\/p>\n

In comparison, Malaysia\u2019s petrol prices at that time were in the range of RM1.60 to RM1.80.<\/span><\/p>\n

“I said then, why can Saudi Arabia have it at 50 cents, yet ours is still so high? We should also lower it. But what about now, in 2023?” he questioned.<\/span><\/p>\n

“That’s because now, petrol in Saudi Arabia is even more expensive than in Malaysia!<\/span><\/p>\n

“How much else do you expect it to drop? We have already provided subsidies, high subsidies, RM30 to 40 billion in subsidies currently,” said the prime minister.<\/span><\/p>\n

Anwar also justified using Saudi Arabia as a benchmark of petrol prices. Today, Saudi Arabia is the world\u2019s leading producer of oil, with an output that dwarfs Malaysia by multiple times.<\/span><\/p>\n

Yet, the petrol price in Saudi Arabia is still higher than Malaysia at RM2.84 per litre. This is in comparison to Malaysia\u2019s subsidised rate of RM2.05 per litre.<\/span><\/p>\n

Malaysia’s economy minister, Rafizi Ramli had also spoken about the petrol price issue before this, saying that it move is unfeasible<\/a> now with the current state of the economy.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The prime minister has given his answer to his detractors who asked why he has not kept his election promise on bringing down petrol prices.<\/p>\n","protected":false},"author":51,"featured_media":59016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[271,256,216],"tags":[1386,1396,905],"class_list":["post-59015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lifestyle","category-news-updates","tag-anwar-ibrahim","tag-datuk-seri-anwar-ibrahim","tag-petrol-price"],"acf":[],"yoast_head":"\nPM Answers Questions On Petrol Price<\/title>\n<meta name=\"description\" content=\"The prime minister has given his answer to his detractors who asked why he has not kept his election promise on bringing down petrol prices.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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