Monday, April 18, 2011

Gas at $4 a gallon

The CNBC media commentators talk about gas (petrol) at $4 a gallon to be a psychological barrier.  Beyond that price, the consumers will reduce the consumption of gas. What is the petrol price in Singapore now, and how much is it converted to US$ per gallon? I believe that our petrol prices must have exceeded the US prices by a lot!

UPDATE
I did my research. Petrol price is $2.12 p litre (95 UL). 1 US gallon = 3.785 litre. USD = 1.247 SGD. So, the petrol price in Singapore is USD 6.43 per gallon - over 50% higher than the "critical price" in US. Singaporeans do pay high price!
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6 comments:

ron said...

Once you own & drive a vehicle, the addiction is very difficult to stop.

Lack of car parks, you feel stressed
Increase in fuel prices - stressed
Increase in ERP - stressed
Increase in traffic -stressed

I just do not understand this mystery: Highest cost of owning a vehicle in the entire world and yet there are people who aspire to own one..

It does not help either with Straits Times & Sunday Times having articles about brand new models and their features.

Since selling away my car for over 8 years, my blood pressure has gone down, my savings went up and my temperament has improved.

Unless you have more than 25% subsidies for the vehicle from your work, or employer.. please do not own a car in Singapore!!

April 18, 2011 10:58 PM
Unknown said...

Calculation wrong. Should be USD 4.735 a gallon instead.

April 19, 2011 8:35 AM
Spur said...

Singapore petrol prices are higher than US coz of high govt duties. Same as many European countries including UK.

For countries with low or no duties such as US, Oz the petrol prices are of course much cheaper. M'sia and Indo have artificially low prices becoz of govt subsidies.

Back in the 1950s when the USD was strong, a gallon of petrol cost US$0.10.

April 19, 2011 10:09 AM
Tan Kin Lian said...

Hi chunhui
you are right. thanks for pointing out the mistake. i have now corrected the posting.

April 19, 2011 11:19 AM
Rick said...

The calculation may still be wrong...1 US gallon = 3.785 liters, not 2.785 as shown. Although it may just be a mistake while typing the info, with the right value actually used in the calculation.

April 19, 2011 11:52 AM
Tan Kin Lian said...

Thanks Rick
My original calculation was right, but I typed in the wrong conversion for US gallon to litre. So, I have corrected back to the price that is over 50% higher than US gas price!

April 19, 2011 2:20 PM

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