Malaysians paying 38.45% petrol tax this week.

U.S. National average gasoline price (Jan 5) is at US$1.684/gallon

According to US Energy Information Administration web site, there’s a 19% tax on gas.

For the purpose of comparison later, we should remove the 19% tax from US gas price.

US gas price – tax = US$1.684 / 1.19 = US$1.415/gallon

Gas in RM/liter = (US$1.415/3.78)*3.48 = RM1.30/liter
* 1 US gallon = 3.78 liter
* US$1 = RM3.47

Currently petrol price at pump is RM1.80/liter

Percentage of petrol tax Malaysians are paying = (1.80-1.30)/1.30 x 100 = 38.45%

Notes :
1. During economic down turn. Govt should cut taxes.
2. Malaysia is a NET oil exporter.