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Malaysia's unsubsidised fuel prices will increase by 20 sen per litre from July 30, with RON97 reaching RM4.40 and diesel climbing to RM4.62. The hike reflects escalating geopolitical tensions in the Middle East.
Malaysia's Deputy Finance Minister Liew Chin Tong has pledged that the government will maintain all existing subsidies and cash assistance programmes, including direct cash transfers, despite facing a projected RM40 billion petroleum subsidy bill this year.
Prime Minister Anwar Ibrahim has reasserted that Malaysia's subsidised petrol prices remain more affordable than those in Saudi Arabia, Qatar, and the UAE, defending the government's fuel pricing strategy amid criticism.
Malaysia's energy supply remains stable despite tensions in the Strait of Hormuz, Deputy Prime Minister Datuk Seri Fadillah Yusof said, with Petronas and the Prime Minister engaging in multilevel negotiations to protect national energy security.
California consumers have filed a lawsuit claiming major petrol station operators, including Walmart and BP, used AI algorithms to illegally manipulate fuel prices, inflating costs by up to US$0.22 per gallon.
A class action lawsuit filed in California federal court accuses major fuel retailers of using artificial intelligence to coordinate high gas prices. The case highlights growing scrutiny of algorithmic pricing practices across the retail sector.