Malaysia lifts petrol subsidies spending to $510 million for steady fuel prices

Kuala Lumpur: Malaysia's government will increase its spending on petrol subsidies ‌to ⁠2 ⁠billion ringgit ($510 million), from 700 million ringgit previously, to maintain the fixed price ⁠of a ‌widely used transport ⁠fuel amid a surge in global oil prices, the second finance minister said on Friday.

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Malaysia ‌currently fixes the price ​of ​the ⁠RON95 transport fuel at 1.99 ringgit per litre.


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