Singapore is supposed to alternate with Rotterdam, as either the
Number One or Number Two in being the largest and most efficient
Oil Refining Center in the World.
Both places do not have any oil, but are the top refining centers
with a large volume of crude oil passing through.
With the reputed astuteness of the Ruling Elite, it is hardly
unbelievable that large floating oil storage of up to three to six
months buffered supply do not exist.
Yet we see the pump prices fluctuating on a daily or weekly basis
whenever the crude oil price move, and this is despite the
existence of the crude oil being buffered as all strategic
commodities are stored.
The pockets that are profiteering from the price fluctuations are
the Oil Companies, and the Government which collects a heft FIFTY
PERCENT TAX
This article was taken from a Malaysian site, maybe applicable to
our local experience :
When looking ways to incraese my car fuel mileage efficiency, I
stumble upon this information :
How Gas Price works
According to the data from US DOE (Department of energy), the
petrol price is actually break down as following :
43% - Crude oil
13% - refinining cost and profits
13% - distribution, marketing and profits
31% - Taxes
And some Petrol station mark up.
It is a big suprise when in year 2004, average price for a
gallon(3.785 liters) of petrol in US cost around US$ 1.79, which is
close to RM1.79 per liters. That's is time when Malaysia petrol
price is cost around RM1.20 per liters.
If you check the above table, you will notice that taxes represent
a huge sum of the US petrol price, say we minus US 0.20 from the
selling price, the cost at petrol station will be US$1.59(RM6.04)
per gallon or RM1.60 per liters. Minus the 31% tax, the cost of the
petrol should be around RM1.10 per literes.
So come here come the story of "Petrol subsidiaries". Although the
media keep feeding us with data from ASEAN country, no single media
in Malaysia are able to give us the data as what DoE of US
provide.
Looking at the US DoE data, it is obvious that the petrol price of
Thailand, Philipine and Indonesia is nothing but result of tax levy
on the petrol.
To date, no ASEAN country government releasing single piece of data
about the REAL PETROL COST. For the case of indonesia, the hikes is
pretty obvious : the petrol hikes is a cumulative result of
international crude oil hikes and HUGE GOVERNMENT levy.
In short, ASEAN country(except Brunei that did not impose petrol
tax, while Singapore imposing less car policy) is currently riding
on the international oil price to exploit the people. It is clear
that crude oil price increase did TOO little to the current petrol
price increase. Is this the same to Malaysia "petrol
subdisidiaries". I don't know, since no ASEAN government is
releasing the information.
Please leave you comment if you think my theory is flaw.
http://www.caffeinbar.com/b2evol/
