Malaysia faces ‘critical period’ for fuel by June, minister says

[KUALA LUMPUR] Malaysia is implementing measures to address fuel shortages triggered by the conflict in the Middle East, The Star reported, citing Economy Minister Akmal Nasrullah Mohd Nasir.

“June and July will be a very critical period in ensuring fuel supplies are available,” Akmal said, adding that it will be “equally important” that industries have ample supply of other raw materials, including those derived from oil and gas. He cited materials used in drugs and medical devices.

Prime Minister Anwar Ibrahim earlier this month signalled Malaysia may face uncertainty over fuel supplies as early as June, underscoring the country’s vulnerability to the global energy crunch. 

Akmal on Tuesday (Apr 7) said the government has stable supply for April and May, but the biggest challenge is to ensure supply from June onwards. The government is taking steps to diversify its fuel sources and strengthen ties with major trading partners, he said. 

Malaysia’s deputy domestic trade minister Fuziah Salleh said an increase in demand in several areas had caused temporary disruptions at some petrol stations, but measure to restore supplies are being immediately implemented. 

“I would like to emphasise that the country’s fuel supply position is still stable and sufficient,” she said in a Facebook post on Saturday, adding that consumers should continue purchases as normal and not panic.

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Meanwhile, state news agency Bernama reported that 329,000 barrels of diesel recently delivered to the Philippines didn’t originate from Malaysia, denying a Philippine media report.

State energy firm Petroliam Nasional, known as Petronas, said in a statement it has not entered into diesel supply arrangements with any party in the Philippines, and that its “utmost priority remains ensuring reliable and continuous fuel supply for Malaysia”. BLOOMBERG