Motorists in the United States now have a whole new reason to smile, as prices of petrol in Michigan have dropped below the US$1 (RM4.36) per US gallon (3.79 litres) mark, according to WXYZ-TV.
The state’s TV station’s news report stated that at one fuel station, Beacon & Bridge Market in Houghton Lake, is in fact selling a gallon of petrol at just 78 cents (RM3.41) – that’s 90 sen per litre. A Marathon Gas Station, also in Houghton Lake, lists petrol at 95 cents (RM4.15) a gallon, or RM1.10 per litre.
The American Automotive Association (AAA) in Michigan stated that prices in the state have fallen by about 13 cents (57 sen) over the past week. On Sunday, the average price for regular 87-octane (not equivalent to our RON measurements) unleaded petrol was around US$1.74 (RM7.60), or RM2.01 per litre – that’s 19 cents (83 sen) cheaper than at the same point last year. This is the first time Michigan has seen prices drop below US$1.75 per gallon since January 2009.
Previously, the AAA has stated that the average price of petrol across the US will continue to fall below last year’s average of US$2.40 (RM10.49) per gallon – or RM2.77 per litre – in 2016, as oil prices hit a near seven-year low. The Independent in the United Kingdom reported that crude oil prices have now dipped below US$28 (RM122) a barrel – a far cry from 2008, when prices shot past the US$100 (RM436) a barrel mark for the first time.
By comparison, current fuel prices in Malaysia as of January 2016 are as follows: RON 95 petrol is priced at RM1.85 per litre, RON 97 petrol at RM2.25 per litre, diesel at RM1.60 per litre and Euro 5 diesel at RM1.70. On the high-performance side of things, Shell V-Power Racing costs RM2.65 per litre, while Petron’s new RON 100 petrol is priced at RM2.80 per litre.
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AI-generated Summary ✨
Comments highlight that petrol prices have fallen below RM1 per liter in the US, citing a recent dip to USD 0.43/liter, and questioning why Malaysia's prices remain high at RM1.85 despite our own oil production. Many express frustration over perceived government mismanagement, subsidies, and a lack of transparency in fuel pricing formulas, accusing authorities of corruption and unfair profit distribution. Comparisons are made to other countries like Singapore, Thailand, and Saudi Arabia, with remarks on the country's reliance on oil revenue, inflation, and the impact of fixed and managed float pricing systems. Overall, sentiments range from disbelief and anger to calls for greater transparency and better economic management, with many feeling that the current petrol prices do not reflect actual costs or true market conditions.