Putrajaya should reveal how it plans to spend the country's revenue surplus following the recovery in oil prices, said PKR vice-president Rafizi Ramli.

Rafizi, who is also Pandan MP, pointed out that Putrajaya's budget for this year was based on the assumption that global oil price will be around US$45 per barrel.

However, the price has hovered at more than US$50 per barrel for the most part of this year, he added.

"In light of crude oil price remaining high, (at US$55 per barrel) compared to the projected price for Budget 2017 (at US$45 per barrel), I project the federal government will collect RM1.6 billion in unanticipated revenue from the increase in crude oil prices," said Rafizi.

As such, Rafizi said Prime Minister Najib Abdul Razak should disclose how the government intends to spend this money.

"This is to avoid wasteful expenditures that do not benefit the people," he said.

Last year, Prime Minister Najib Abdul Razak had announced a budget recalibration after global crude oil price slumped beyond Putrajaya's projected revenue.

The government had assumed global crude oil price to average US$48 per barrel but prices crashed to around US$30 per barrel.

Najib subsequently announced a recalibrated budget based on the assumption that crude oil price would average around US$30 to US$35 per barrel for Budget 2016.

For Budget 2017, the assumption was for crude oil to be at US$45 per barrel.

However, the price had moderated this year amid efforts by the Organistion of the Petroleum Exporting Countries (Opec) as well as non-Opec oil producers to reduce output.

While the slump in global oil prices forced Putrajaya to institute austerity measures, leading to cuts in key sectors such as education and healthcare, the cheaper oil price also allowed it to abolish fuel subsidy without major public backlash.

However, as global oil price recovers and consumers pay more at the pump, there has been renewed calls to restore fuel subsidies.

Putrajaya insisted that this will not happen but have instituted a new fuel price ceiling based on the average weekly market price.

Rafizi projected that the weekly RON95 price beginning Thursday to be around RM2.25 per litre, an increase of one sen.

As such, he said RON95 price should be maintained at RM2.24 per litre due to the negligible increase.