Saturday, 11 February 2017

Kenapa tak banding dengan kemampuan negara OPEC?

Dec 2014 was the first month where Malaysia started going on a managed float for RON95. It was RM2.26 then or USD0.67 based on exchange rates then.

Compare that to Feb 2017 where it is now RM2.30 or USD0.52.  We can then see that the effects of currency and also low crude prices brought us back roughly to the same price in Ringgit terms.

However, you can see that the vast majority of the countries that were cheaper than Malaysia in Dec 2014 have cut subsidies and have raised their petrol prices by about 30% to 50%.

These major oil production and exporting countries were forced to do so when low crude prices put great pressure on their finances.

As a consequence, Malaysia is one of the very few countries where the price of petrol had dropped in USD terms while the rest have increased - a few by a big margin.

Some countries that were cheaper than Malaysia in 2014 have experienced even bigger changes

Libya dropped off the list since 2014 due to war. Brunei requested for their country to be removed from the list as in the month of March 2016, Malaysia's petrol was actually cheaper than Brunei.

Syria's petrol was USD0.05 per liter in 2014 but it is now USD1.04 while Sudan was USD0.34 but is now USD0.94 per liter. Angola, which was just one spot cheaper than Malaysia in 2014 has seen its price jump from USD0.59 to USD0.95.

On the balance of these vast changes in oil prices and exchange rates and its effect on other countries, it is proven that Malaysia's petrol prices have been fair to the people - despite accusations from Pakatan.
[09/02, 15:59] Dato Eric Lim (LSS): These are the countries whose petrol prices are currently cheaper than Malaysia in the month of February 2017.

1. Venezuela - RM0.04 per litre
2. Saudi Arabia - RM1.06 per litre
3. Turkmenistan - RM1.22 per litre
4. Algeria - RM1.43 per litre
5. Egypt - RM1.46 per litre
6. Kuwait - RM1.51 per litre
7. Iran - RM1.63 per litre
8. Brunei RM1.66 per litre
9. Ecuador - RM1.73 per litre
10. Bahrain - RM1.85 per litre
11. Qatar - RM1.99 per litre
12. Nigeria - RM2.06 per litre
13. Kazakhstan - RM2.06 per litre
14. Sierra Leone  - RM2.19 per litre
15. Oman - RM2.23 per litre
16. UA Emirates - RM2.26 per litre

Malaysia is listed at 17th cheapest in the world at RM2.30 per litre. All the countries that are cheaper than us are mostly big oil producers and exporters whereas Malaysia is now a net importer of oil.

Which country do you want Malaysia to be cheaper than and why?

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