The government has announced that it will introduce a targeted diesel subsidy in phases. This was announced by prime minister Datuk Seri Anwar Ibrahim in his Budget 2024 speech this evening.
Anwar said that the current subsidised diesel price, which is set at RM2.15 per litre, would be RM3.75 per litre at market price. As such, the government is bearing RM1.60 for each litre of diesel sold, or around RM1.5 billion ringgit in total. No timeframe was mentioned as to when the targeted subsidy would be introduced, but the government has previously stated that it would