Crude oil price

Stephen Innes said the steadier crude oil prices earlier this week have also provided support for the local note.

The government still has sufficient funds to continue to provide fuel subsidies to the people despite rising global crude oil prices.

Malaysia is expected to fork out higher total subsidies in 2022 to the tune of RM71 billion, while petrol subsidies alone will touch RM30 billion amid the rise in crude oil prices.

Fernandes said the high crude oil price is not an issue at the moment as demand for air travel is robust.

The soaring world crude oil prices currently give some room to the government to continue providing fuel subsidies, says Datuk Seri Mustapa Mohamed.

The inflation rate is forecast to record 2.1 per cent in 2022, following better economic prospects and stable crude oil prices.

A dealer said that crude oil prices are expected to stabilise in line with the progress in the COVID-19 vaccine rollout.

Malaysia's inflation is expected to normalise at 2.5 per cent next year in line with better economic prospects and higher crude oil prices.

The government would continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the peoples welfare and well-being continue to be protected.

The decline in the retail prices of petroleum products is due to changes in refined product prices, in line with current crude oil prices.

This reduce is due to changes in refined product prices, in line with current crude oil prices.

Asian refiners fear that longer lead times between pricing and deliveries will expose them to more risk.

The increase was attributed to several factors, including the rise in the Brent crude oil prices in the first six months of this year and the inflow of non-resident portfolio funds.

A dealer says sentiment is also expected to remain cautious amid a stronger ringgit as well as global crude oil prices movement.

He says the fall in oil prices has a significant impact on the country's revenue which is used to finance part of the subsidies for welfare of the people.

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