....... Divertimento: Petrol prices

Thursday, 19 May 2011

Petrol prices

I don’t usually pay much attention when I my car is being filled up at the petrol station. That’s why I was rather surprised when I looked at the receipt this morning. $14.95 per liter ($16.45 per liter less $1.50 discount for credit card payment). Of this, tax was HK$6.06 per liter which translates to 40.5% of the cost. So I thought, I’d like to see what people in other parts of the world pay for petrol and where Hong Kong ranks.

The German Technical Cooperation (GTZ) publishes a bi-annual survey of International Fuel Prices. The latest survey of the retail prices of gasoline was conducted in November 2010. At that time, the price of crude oil was equivalent to 51 US cents per liter. The 170 plus countries surveyed were ranked and placed in 4 categories. In order, from category 1 to category 4 are – very high gasoline subsidies (retail price 1-51 US cents), gasoline subsidies, gasoline taxation, very high gasoline taxation (retail price 147-254 US cents). You guessed it – Hong Kong is firmly in category 4, ranking equal 9th from the top with UK at 192 US cents per liter. Mmmh, maybe I should take the bus..........

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