Malaysia to raise fuel subsidies more than fourfold to stabilize prices

Malaysia to raise fuel subsidies more than fourfold to stabilize prices

Iran tensions

Prime Minister Anwar Ibrahim says national reserves can last until May

Malaysia will increase petrol and diesel subsidies to cushion the impact of global energy price rises caused by hostilities in the Middle East.  © Reuters

KUALA LUMPUR — Malaysia will significantly increase fuel subsidies to mitigate the impact of global energy price hikes, the government said on Friday as tensions in the Middle East drive inflation worldwide.

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