COMMENT | Roughly 20 percent of all global fossil fuel supply chains flow through the Strait of Hormuz. Since the illegal joint Israel-US strikes on Iran commenced on Feb 28, 2026, fossil fuel prices throughout the world have skyrocketed.

In Southeast Asia, neighbours such as the Philippines and Thailand are facing fuel shortages and declarations of a state of emergency.

While Malaysia has not been affected by supply issues, the government’s blanket subsidy of RON95 petrol has become far costlier than originally planned.

Within one month, the market price of RON95 petrol in Malaysia rose from RM2.56 per litre to RM3.87 per litre, a 50 percent increase.

Accordingly, by...