{
  "id": 16993908,
  "title": "Petroleum subsidies projected to reach RM40 billion in 2026",
  "url": "https://urgent.news/2026/10/29/petroleum-subsidies-projected-to-reach-rm40-billion-in-2026",
  "topic": "world",
  "section": "World",
  "published": "2026-10-29T01:55:00.000Z",
  "source": {
    "name": "The Vibes",
    "slug": "the-vibes",
    "url": "https://www.thevibes.com/articles/news/128925/petroleum-subsidies-projected-to-reach-rm40-billion-in-2026"
  },
  "original_language": "en",
  "account": "Petroleum subsidies in Malaysia are set to hit RM40 billion in 2026, following a global supply crisis that has driven world crude oil prices beyond US$120 per barrel. The rise in subsidies from January to April saw a monthly increase from RM800 million to nearly RM5 billion, with a subsequent moderation to about RM3 billion per month between June and August. The government has adopted a balanced approach, prioritizing high-impact programs and essential services like education, healthcare, and public assistance over non-essential expenditures. This adjustment was made while ensuring that vital services remain protected, as reported by the Ministry of Finance (MOF). The government aims to bolster fiscal discipline by controlling operational expenditure, enhancing public spending efficiency, and curbing subsidies leakages. Additionally, enforcement measures are being strengthened to ensure assistance and subsidies reach the eligible recipients, optimizing the use of national financial resources. The government remains committed to balancing public welfare from rising fuel prices with prudent expenditure management, ensuring that subsidy increases do not compromise the nation's fiscal sustainability.",
  "summary": "The government projects that petroleum subsidies will reach RM40 billion this year due to a global supply crisis that has driven crude oil prices above US$120 per barrel. Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim reported that monthly subsidies for petrol, diesel, and liquefied petroleum gas surged from approximately RM800 million in January and February to nearly RM5 billion during March and April. The monthly subsidy burden subsequently decreased to about RM3 billion between June and August, according to the New Straits Times.\n\nIn a written parliamentary reply to Datuk Seri Mohd Shafie Apdal, Anwar Ibrahim stated the government is adopting a balanced approach to protect citizens from rising fuel prices while maintaining fiscal sustainability. The government has reprioritised annual expenditure to focus on high-impact programmes and essential services, such as healthcare, education, and financial assistance. To strengthen fiscal discipline, the government intends to tighten operating expenditure, improve public spending efficiency, and reduce leakages in programme implementation, the New Straits Times reported.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "New Straits Times",
        "title": "Petroleum subsidies projected to hit RM40bil this year",
        "url": "https://urgent.news/2026/10/29/petroleum-subsidies-projected-to-hit-rm40bil-this-year",
        "published": "2026-10-29T02:06:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}