Tan Kin Lian - Perspectives Petrol prices around the world - 18 Oct 2023
Google Search - 18 Oct 2023

Petrol prices p liter in USD
Hong Kong    $2.88
Singapore      $2.10
Germany        $2.07
UK                 $1.89
Australia        $1.28
India              $1.26
China             $1.16
Japan            $1.10 
US                 $1.01
Indonesia      $0.81
Russia           $0.54
Malaysia       $0.41
Libya             $0.03

Petrol prices in Singapore is 2X of USA, Japan, China, Australia. Why?

The effective petrol tax in Singapore is S$0.90 per liter. This is made up of the following components:

Road tax: S$0.20 per liter
Excise duty: S$0.50 per liter
GST: S$0.20 per liter

Singapore has one of the highest petrol taxes in the world. This is because the government wants to discourage people from driving and to encourage them to use public transportation or other forms of transportation.

Tan Kin Lian

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The prices in Singapore are insanely high. The government charges many layers of tax - COE, ERP, petrol tax.

kinlian@gmail.com  18 Oct 2023  

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