Saturday, October 18, 2008

Regular RON92 at RM2.08 per litre - Malaysiakini

At this gas station, Goodies (Go Goo Goodies) located at 4501 NW 63rd, Oklahoma City, Regular RON92 is being sold at US2.25 per gallon.

1 US Gallon = 3.785 litres.

US2.25/3.785 = US0.59 per litre.

Forex rate RM3.50 to 1USD,

US0.59 X RM3.50 = RM2.08 per litre.

This is the price of Regular RN92 being sold at the above gas station and that gasoline sold in oil-importing America is taxed and non-subsidized. 

The price of SUBSIDISED Regular RON92 sold in an oil-exporting nation, namely Malaysia, is RM2.20 per litre.

Free Market Price,  at abovementioned gas station: RM2.08 per litre

30 sen SUBSIDY, non-taxed, sold at Malaysian gas station: RM2.20 per litre

Strange, isn't it?

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