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Dr M: Govt to provide subsidy if oil prices soar as a result of attacks in Saudi

Saudi Arabia’s move to temporarily suspend production at the state-owned Aramco’s two major oil facilities following drone attacks by Yemeni rebels will definitely impact global oil prices, says Prime Minister Tun Dr Mahathir Mohamad.

However, he said in Malaysia, the government practices intervention through a subsidy to offset the price hikes.

The prime minister said this on Sunday when asked whether the government would review the retail price of RON95 petrol, which currently stood at RM2.08 per litre, if global oil prices soar following the attacks.

Read more at
https://www.thestar.com.my/news/nation/2019/09/15/dr-m-govt-to-provide-subsidy-if-oil-prices-soar-as-a-result-of-attacks-in-saudi

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