Singapore petrol is still the cheapest in the world?
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Originally posted by eagle:
Luxembourg?
Hmmm
just found this out:
Luxembourg GDP per Capita (PPP) is $80500
Their unleaded petrol price is 1.296 Euros, which is around 2.03955 USD from XE.comSo the ratio is 2.534*10^-5
https://www.cia.gov/library/publications/the-world-factbook/print/lu.html
http://www.aaireland.ie/petrolprices/
Singapore GDP per capita (PPP) is $49700 which is around 36416.1 USD
unleaded petrol price say $2So the ratio is 5.49*10^-5
https://www.cia.gov/library/publications/the-world-factbook/print/sn.html
Conclusion: Singapore has less affordable petrol prices for its citizens and residents
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Originally posted by maurizio13:
Oil like gold has a universal market price, the only reason why the market price of petrol is different from Singapore is because the government here taxes $0.40 per litre. Brings back previous arguments where you said there was no universal market price for pork.
If gold or petrol has different price, it will encourage arbitrage activities to occur within borders, like Singaporeans or Thais going to Malaysia to fill up their petrol.
Should be $0.44 per litre right?
Anyway my question is, the tax of 44cents per litre includes GST or not?
Here is some tax info of countries.
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Originally posted by Evangel:
Should be $0.44 per litre right?
Anyway my question is, the tax of 44cents per litre includes GST or not?
Here is some tax info of countries.
Around there lah.If you pump 40 litres for your car, you already paying extra of $17.60 to the government.
The $0.44 duty is before GST of 7%, so after you pump at the kiosk, you still need to add 7% to the total bill.
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Originally posted by maurizio13:
Oil like gold has a universal market price, the only reason why the market price of petrol is different from Singapore is because the government here taxes $0.40 per litre. Brings back previous arguments where you said there was no universal market price for pork.If gold or petrol has different price, it will encourage arbitrage activities to occur within borders, like Singaporeans or Thais going to Malaysia to fill up their petrol.
Are you aware that most non-oil producing developed countries do impose tax on petrol?
And btw, there is no such thing as an international market price for petrol. it is crude oil that is internationally traded. Do you know that the price of petrol in Saudi Arabia is about S$0.25/L? Is that the market price?
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Originally posted by maurizio13:
Around there lah.If you pump 40 litres for your car, you already paying extra of $17.60 to the government.
The $0.44 duty is before GST of 7%, so after you pump at the kiosk, you still need to add 7% to the total bill.
Thanks for the info.
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Originally posted by £ Ĭ €Ú°:
Are you aware that most non-oil producing developed countries do impose tax on petrol?
And btw, there is no such thing as an international market price for petrol. it is crude oil that is internationally traded. Do you know that the price of petrol in Saudi Arabia is about S$0.25/L? Is that the market price?
Is it?Is that a rule that is applied world wide?
non-oil producing countries MUST impose tax.
The reason that these developed countries impose tax is to receive revenues for their welfare programs (unemployment) and free healthcare.
Some countries like Australia don't impose petrol tax, their petrols are cheaper than Singapore, yet they provide free healthcare. Singapore tax alot but no benefits whatsoever.
They even went back on the promise of using the reserves to help Singaporeans during times of crisis.
It's the oil crisis now!
What do they tell us?
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Originally posted by Evangel:
Thanks for the info.
no problem
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Originally posted by maurizio13:
Is it?Is that a rule that is applied world wide?
non-oil producing countries MUST impose tax.
The reason that these developed countries impose tax is to receive revenues for their welfare programs (unemployment) and free healthcare.
Some countries like Australia don't impose petrol tax, their petrols are cheaper than Singapore, yet they provide free healthcare. Singapore tax alot but no benefits whatsoever.
They even went back on the promise of using the reserves to help Singaporeans during times of crisis.
It's the oil crisis now!
What do they tell us?
They did use the money to help the sub-prime crisis.
All those foreign banks lor...
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It is quite obvious that TS failed to read that
Luxembourg's petrol is priced at 0.002534% of their GDP per capita
while
Singapore's petrol is priced at 0.00549% of Sg's GDP per capita
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LOL, If i am gonna ask my friend who is a boss of a car leasing company this question .. I will get scolding for nothing. I am pretty impressed that TS can still think that petrol is cheap in SG .. Either u are one fuking rich chap or u dun a car to feel the impact ..
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yes petrol in singapore is cheap.
one litre cheaper than chicken rice.
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Originally posted by £ Ĭ €Ú°:
Are you aware that most non-oil producing developed countries do impose tax on petrol?
And btw, there is no such thing as an international market price for petrol. it is crude oil that is internationally traded. Do you know that the price of petrol in Saudi Arabia is about S$0.25/L? Is that the market price?
Is the petrol price of S$0.25/L in Saudi Arabia the retail price that you are questioning ?
Why should Saudi Arabia follow any market price for refined petrol - when each countries have their own pricing policies to meet respective political agenda ?
Why should you be surprised, or expect anyone to be ?
Saudi Arabia is flushed with cash by pumping oil - with enough to stuff the Saudi citizens to be coddled from cradle to grave.
While Singapore has build its sovereign wealth to be near the amount owned by Saudi Arabia, with this being achieved by pumping the pockets of Singaporeans.
Still, Singaporeans do not expect any coddling from this Government but only for a small iota of compassion for the present hardships faced.
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What kind of argument does the government give you when you ask that they forgo the petrol tax?
They don't believe in giving subsidies, so now not taxing is considered a subsidy.
Then they tell you, by decreasing the petrol tax, it will encourage demand. It's like telling Singaporeans that if rice is cheaper EVERYBODY will eat an extra bowl. While I can't deny that if something is cheaper, a small percentage of us will increase consumption by a bit, but that increase is marginal, not dramatic as the government will want us to believe.
At current prices as compared to 2-3 years ago, the price of petrol has increase astronomically, it's not like in the past where SG$40 will fill a tank of a japanese car. Even with the waiving of the $0.44 cents petrol duty, it will not make motorist consume that much, because at SG$1.80 per litre, it's still expensive.
Moreover, waiving the petrol duty means less revenue for the government, it doesn't mean government is taking out money from reserves to subsidise.
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Originally posted by maurizio13:
Is it?Is that a rule that is applied world wide?
non-oil producing countries MUST impose tax.
The reason that these developed countries impose tax is to receive revenues for their welfare programs (unemployment) and free healthcare.
Some countries like Australia don't impose petrol tax, their petrols are cheaper than Singapore, yet they provide free healthcare. Singapore tax alot but no benefits whatsoever.
They even went back on the promise of using the reserves to help Singaporeans during times of crisis.
It's the oil crisis now!
What do they tell us?
time and time again you are confusing yourself with facts. As I have told you already, Australia is an oil producing country so why are you comparing that to Singapore. You should actually compare Australia petrol price to Saudi Arabia.
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how much is petrol price is aus?
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Originally posted by Atobe:
Is the petrol price of S$0.25/L in Saudi Arabia the retail price that you are questioning ?
Why should Saudi Arabia follow any market price for refined petrol - when each countries have their own pricing policies to meet respective political agenda ?
Why should you be surprised, or expect anyone to be ?
Saudi Arabia is flushed with cash by pumping oil - with enough to stuff the Saudi citizens to be coddled from cradle to grave.
While Singapore has build its sovereign wealth to be near the amount owned by Saudi Arabia, with this being achieved by pumping the pockets of Singaporeans.
Still, Singaporeans do not expect any coddling from this Government but only for a small iota of compassion for the present hardships faced.
First and foremost, you should be directly your reply to Maurizio13 because my statement of S$0.25 per L petrol price in Saudi Arabia is simply an response to his claim that there is a "universal market price" for petrol.
Are you aware that Australia is flushed with natural gas, oil, iron ore and coal, I am just wondering why Australia are still paying so much for steel, gas and petrol. Why didnt they sell $0.25 petrol like saudi arabia?
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Originally posted by £ Ĭ €Ú°:
First and foremost, you should be directly your reply to Maurizio13 because my statement of S$0.25 per L petrol price in Saudi Arabia is simply an response to his claim that there is a "universal market price" for petrol.
Are you aware that Australia is flushed with natural gas, oil, iron ore and coal, I am just wondering why Australia are still paying so much for steel, gas and petrol. Why didnt they sell $0.25 petrol like saudi arabia?
I believe most ppl don't really care if SG is a oil producing country .. This way you are showing us how good is Australia since the car and petrol is cheaper there.
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Originally posted by Midlusionz:
LOL, If i am gonna ask my friend who is a boss of a car leasing company this question .. I will get scolding for nothing. I am pretty impressed that TS can still think that petrol is cheap in SG .. Either u are one fuking rich chap or u dun a car to feel the impact ..
I think you boss going to fuck you up so bad that you forget the road back to home.Why he fuck you? Because you dont even know what is a non-oil producing developed country.
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Originally posted by £ Ĭ €Ú°:
I think you boss going to fuck you up so bad that you forget the road back to home.Why he fuck you? Because you dont even know what is a non-oil producing developed country.
Read my post properly .. It's my FRIEND not my BOSS. Go ard in Upper Serangoon shopping centre ask the car leasing companies there .. Tell them petrol is cheap in SG .. See what replies you will get.
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Originally posted by £ Ĭ €Ú°:
time and time again you are confusing yourself with facts. As I have told you already, Australia is an oil producing country so why are you comparing that to Singapore. You should actually compare Australia petrol price to Saudi Arabia.
According to British Petroleum Statistical Review of World Energy, as of 2007 Saudi Arabia reported it had 264 billion barrels (42×109 m3) of estimated oil reserves
Australia’s remaining crude oil reserves peaked in 1995 at 2 billion barrels and have declined to 1.58 billion barrels at 1 Jan 2004
compare a country with 264 billion barrels and one with 1.58 billion barrels???!!!!
unbelieavable.... deserves to be poked from behind.....
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msia produce how many million barrels a year ah?
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Originally posted by maurizio13:
They even went back on the promise of using the reserves to help Singaporeans during times of crisis.
It's the oil crisis now!
What do they tell us?
They use reserves to loan to crisis country.. =X -
Originally posted by AndrewPKYap:
According to British Petroleum Statistical Review of World Energy, as of 2007 Saudi Arabia reported it had 264 billion barrels (42×109 m3) of estimated oil reserves
Australia’s remaining crude oil reserves peaked in 1995 at 2 billion barrels and have declined to 1.58 billion barrels at 1 Jan 2004
compare a country with 264 billion barrels and one with 1.58 billion barrels???!!!!
unbelieavable.... deserves to be poked from behind.....
And it will be ok to compare a country with 1.58 billion barrels to a 750sqkm island with ZERO barrel?
that to me is unbelieveable.
Btw, why stop at oil, Australia has huge reserve of natural gas, why arent the cars there run on subsidized CNG?
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Originally posted by Midlusionz:
Read my post properly .. It's my FRIEND not my BOSS. Go ard in Upper Serangoon shopping centre ask the car leasing companies there .. Tell them petrol is cheap in SG .. See what replies you will get.
Read my post property? I think you should tell yourself to read my post properly first before talking. -
Originally posted by eagle:
It is quite obvious that TS failed to read that
Luxembourg's petrol is priced at 0.002534% of their GDP per capita
while
Singapore's petrol is priced at 0.00549% of Sg's GDP per capita
Maurizio, what do you think of this flying frog comparison? Does it make any sense to you?