Comparison of Oil Prices in Other Countries

Global Oil Price:

Deep Impact in Non-Oil-Producing Countries

Quotes from Al Jazeera News (English version) at 6 June 2008

• Consumers around the world have been protesting against high oil prices and fuel prices, with US oil topping $139 a barrel after its biggest-ever one-day increase.
• India's government, which imports 70 per cent of its oil, cut fuel subsidies earlier in the week, causing an 11 per cent rise in the cost of petrol. Thousands of people demonstrated in Mumbai the previous day, also venting their anger at the cost of gas and food.
• In Indonesia, small businessmen are feeling the pinch. Despite widespread protests, costs have soared by 30 per cent in the last few weeks. The country is also pulling out of Opec, the oil exporters' cartel, because it cannot produce enough oil to export.
• In Europe, fishermen, farmers and lorry drivers have held massive protests over the rising prices. Action in Belgium turned violent when riot police charged fishermen on Wednesday after rocks and firecrackers were hurled across the barricades.
• US carrier Continental Airlines announced on Thursday 3,000 job cuts and the halting of service for 67 ageing aircraft because of rising fuel prices.

World petrol prices

The price drivers pay for petrol per litre varies wildly around the world: Turkey: $2.68 UK: $2.26 Hong Kong: $1.99 Brazil: $1.56 Pakistan: $1.06 US: $1.05 Saudi Arabia: $0.12 Venezuela: $0.05

A comparison with Oil-Producing Countries:

Bahrain - RM 1.03 per litre
Qatar - RM 0.87 per litre
Kuwait - RM 0.68 Per litre
Saudi Arabia - RM 0.39 per litre
Iran - RM 0.35 per litre
Nigeria - RM 0.32 per litre
Malaysia - RM 2.70 per litre

Currency conversion based on USD 1 : RM 3.23

Malaysia is an Oil-Producing country, why our price is catching up to the Non-Oil-Producing countries? Where have our oil revenue gone? @$%##%^*&(

We are damn envy to Qatar as their government truly made use of their oil revenue to develop the country. Here is what they comment on Qatar: "While most countries are suffering from high oil prices, they are also fuelling one of the biggest transfers of wealth in history. For the oil and gas producing state of Qatar, the cost of filling ..."

Play the video clip below to see the prove: