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Old 6th May 2008, 09:39 AM   #1 (permalink)
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Petrol Price M'sia & Singapore

Sorry guys. Need some enlightenment on the above. Maybe the answer is already known to all but.....
Can someone tell me why is there a price difference of petrol here in Singapore and just across the causeway?
I am assuming that the 2 govts are purchasing petrol for roughly the same price, but why are they selling at such different rate?

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Old 6th May 2008, 09:51 AM   #2 (permalink)
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Re: Petrol Price M'sia & Singapore

malaysian government sets aside an amount of money as subsidies for petroleum, but singapore don't have.

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Old 6th May 2008, 11:11 AM   #3 (permalink)
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Re: Petrol Price M'sia & Singapore

1.) Malaysian government subsidizes petrol.
2.) Singapore government adds a tax to petrol.
3.) Economies of scale. (It would make sense since Malaysian use more petrol than Singapore due to the population size and number of cars.)

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Old 6th May 2008, 11:16 AM   #4 (permalink)
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Re: Petrol Price M'sia & Singapore

^ you're right. i totally forgot about economies of scale. what about cartels? i don't know, but somehow the providers in singapore always increase prices at the same time

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Old 6th May 2008, 11:29 AM   #5 (permalink)
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Re: Petrol Price M'sia & Singapore

Cartels happen in the industry, but I think that seperate economies work seperately due to the taxes and economic factors.

For example, in Singapore diesel is limited to commercial vehicles so there is an artificially imposed limit on demand there. A cartel has nothing to do with why the price of petrol or diesel is different from one country to the next, at least not that I can think of.

But you are right that petrol prices move upward together, mostly because of the Oligopolistic nature of the business. It encourages a certain price rigidity, if I recall. It's been a long time since I touched an economics text.

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Old 6th May 2008, 11:35 AM   #6 (permalink)
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Re: Petrol Price M'sia & Singapore

is cartel allowed in this industry? 'cos i know the government don't allow cartel for certain markets (e.g. cinemas). but i'm not sure if the increase in prices of petrol in singapore is caused mainly by oligopoly, or is it a cartel. 'cos for cartel, it also discourage the price liquidity ne. but you said that it isn't a cartel (or at least you think so). how do you actually differentiate cartel and oligopoly, when the line isn't drawn clear?

agree on the artificial limit on demand. but is the market totally free, to let the prices fall?

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Old 6th May 2008, 01:16 PM   #7 (permalink)
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Re: Petrol Price M'sia & Singapore

I thought there are some oil refineries in S'pore. Shouldn't that help us to get petrol at a cheaper price since no transportation is required?

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Old 6th May 2008, 02:02 PM   #8 (permalink)
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Re: Petrol Price M'sia & Singapore

you meant Shell at Jurong Island? sorry ya, but the oil refineries belongs to the private sector (some company de), not the government's. so refining their own oil is for their own sales, not those ease singapore's rising petrol prices

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Old 6th May 2008, 02:29 PM   #9 (permalink)
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Re: Petrol Price M'sia & Singapore

oic

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