By JAMES LEONG
TONGOD: Sedco Group Chairman Datuk Masiung Banah has not ruled out the possibility that fuel prices could be standardised across Malaysia if the conflict in West Asia continues to escalate.
According to Masiung, maintaining oil subsidies across the board is no longer a sustainable option, given the government’s limited financial capacity.
The Kuamut Assemblyman spoke to the media on Sunday after officiating a joint thanksgiving ceremony for the recent State Election and Aidilfitri celebration at Kampung Kuala Keramuak here.
He warned that if the global economic crisis persists and the war between Iran and America or Israel intensifies, it would not be surprising to see petrol prices in Sabah, Sarawak, and Peninsular Malaysia standardised.
“The rise in global oil prices will certainly drive up the cost of daily necessities, especially imported goods,” he stressed.
Masiung added that oil subsidies for the people of Borneo could be frozen should the government’s financial position become more constrained.
He reminded Sabahans to prepare for a higher cost of living due to global economic uncertainty, describing the situation as unavoidable.
He urged all segments of society, particularly in Sabah, to adopt a more prudent lifestyle and practise frugal spending habits.
Masiung highlighted that current estimates show national petrol and diesel subsidies amount to approximately RM6 billion per month, compared to RM700 million before the global energy conflict.
He explained that subsidies for Sabah and Sarawak alone total RM383 million per month, or RM4.5 billion per year.
Meanwhile, fuel prices in Peninsular Malaysia for the period of 9 to 15 April saw an increase, with RON95 at RM4.17 per litre and RON97 at RM5.35 per litre — each rising by RM0.40.
Diesel prices in the Peninsula jumped to RM6.72 per litre, a sharp increase of RM0.70.
Currently, diesel in Sabah, Sarawak, and Labuan remains at RM2.15 per litre, while subsidised RON95-BUDI is still at RM1.99 per litre.
Among the more than 400 residents attending the event were Tongod District Officer Hadzlan Jablee and Tokyo Community Development Officer (PPM) Hashim Omar.
Masiung (right), exchanging handshakes with folks on his arrival for Sunday’s programme at Kampung Kuala Keramuak.
