Malaysia has ended blanket subsidies for diesel to cut government spending and curb fuel smuggling into neighbouring countries. The price of diesel now stands at RM3.35 — a 56% rise. However, diesel for low-income groups — like fishermen and farmers, as well as operators of school buses and ambulances — will continue to be subsidised. The government expects targeted subsidies to save Malaysia around $850 million annually. The subsidy cuts for RON95 — the cheapest and most widely used gasoline — is on track to be rolled out in the second half of 2024. Afifah Ariffin reports.
