Real Petrol Price In US Is Officially Lower Than Malaysia (Oil Producer Country)

Today (Thursday), average gasoline prices slipped under $1.80 a gallon as WTI world Crude Oil price hit below $44 a barrel.

As we know,

1 US gallon = 3.78541178 litre.

Petrol Prices in Malaysia (Oil Producer Country) are Rm1.90/litre for RON97 and RM 1.80 for RON92. That's make a average of Rm1.85/litre.

According to yahoo finance, latest Rm/$ = 3.6400

So petro prices in Malaysia in $/gallon term is

(RM 1.85 X 3.78541178)/3.64

= around $1.924/gallon which is more than 10 cents per gallon higher than petrol prices in US.

That's amazing as US is much more developed country with much higher money supply. Yes US is also a country with oil company such as Exxon Mobil, Chevron and so, but consider US standard of living compared to Malaysia, petrol price should be much lower in Malaysia.

Maybe one day all Malaysian will have to drive to neighbor country just to get reasonable priced petrol.

FYI, RON 98 price in Singapore is S$1.67/litre, RON 95 is S$1.596/litre and RON 92 is S$1.563