Malaysians will continue to enjoy some of the lowest petrol prices globally, with the government fixing RON95 at RM1.99 per litre starting September 30.

Finance Minister II, Datuk Seri Amir Hamzah Azizan, said the subsidised price ensures local consumers benefit directly, regardless of fluctuations in the global oil market. “Even if international rates climb, Malaysians will still be paying one of the cheapest pump prices in the world,” he told reporters during a visit to Pulau Betong in Balik Pulau.

The subsidy scheme, he explained, is designed not only to keep fuel affordable but also to prevent leakages, such as subsidised petrol being resold across borders. By locking in the price, the government expects to save between RM2.5 billion and RM4 billion annually, funds that will be redirected to social programmes like the Sumbangan Tunai Rahmah (STR).

Amir Hamzah stressed that the RM1.99 price tag will hold steady even if global oil prices fall, saying the fixed rate gives households certainty and shields them from sudden market shocks.

Beyond fuel subsidies, the minister also highlighted ongoing investments in community development. He announced that Pulau Betong, a fishing village named one of the Kampung Angkat Madani, will receive RM1 million for infrastructure upgrades. The allocation forms part of a broader RM200 million package to develop 200 such villages nationwide.

“Pulau Betong has strong tourism potential. By improving its facilities, we can attract more visitors and create new opportunities for local businesses,” Amir Hamzah said.

The twin initiatives — cheap fuel and rural upgrades — are positioned as part of the government’s wider effort to balance household relief with long-term economic growth.