Tue11212017

LAST_UPDATETue, 21 Nov 2017 12pm

A Look At Global Petrol Prices Before Weekly Announcement Tonight, How Much Are M'sians Paying Compared To The World?

Filepic: ShutterstockFilepic: Shutterstock

While motorists nationwide had greeted the drop in petrol prices last week with a smile, many are also waiting in anticipation to see what this week's announcement will bring.

Malaysians are still adjusting to the notion of fluctuating pump prices after decades of enjoying subsidised petrol but many do not realise that we are still paying among the lowest prices not only in Southeast Asia but also worldwide.

When the price of RON95 dropped to RM2.13 per litre last week, did you know that Malaysia's petrol prices became the thirteenth cheapest in the world?

In fact, motorists in Malaysia pay far less for petrol than residents in Oman and the UAE, who are among the world's oil producers.

Pic: globalpetrolprices.comPic: globalpetrolprices.com

The latest ranking on GlobalPetrolPrices.com published on 3 April had put Malaysia in 13th spot, the cheapest among our Southeast Asian neighbours.

In an earlier statement in February, the Barisan Nasional Strategic Communications Team had highlighted how Malaysians enjoy among the cheapest petrol worldwide despite not being among the world's biggest oild producers.

“This is unusual as Malaysia is not a big producer and exporter of oil when compared with the other countries in the top 15 cheapest retail petrol list.

“In Asean, our RM2.30 per litre price for February compares favourably to Indonesia (RM2.73), Thailand (RM4.10), the Philippines (RM3.72) and Singapore (RM6.56).

“Malaysia’s RON95 price was also at RM2.30 per litre in October and November 2014. It is also interesting to note that in 2008, RON92 had reached RM2.62 per litre.”

According to globalpetrolprices.com, "the average price of gasoline around the world is 1.01 U.S. Dollar per liter" but the report points out there are substantial differences in prices among countries due to different taxes imposed.

Meanwhile, here are some comparative numbers to ponder as Malaysians wait for this week's announcement - Singaporeans are getting their petrol at RM6.29 per litre while motorists in Hong Kong fork out RM8.46 for each litre of petrol.

- mD