KUALA LUMPUR, March 22 -- Prime Minister Datuk Seri Anwar Ibrahim said Malaysia has not been spared from the recent surge in global oil prices following the conflict in West Asia, despite being an oil producing nation.

He said the disruption at the Strait of Hormuz - the world's main oil shipping route - has limited global supply and pushed prices higher. Nearly half of Malaysia's oil supply passes through the strait, he noted.

"Although Malaysia produces oil, we actually import more than we export," Anwar said in a Facebook post today.

He added that government subsidies had risen sharply, from about RM700 million to RM3.2 billion in less than a week, to shield consumers and businesses from paying full market prices. The subsidies are ...