Here are the recent gasoline prices in selected ASEAN economies, in US$ per liter. Domestic prices are affected by (a) exchange rate with the US$, (b) local subsidies or taxes, (c) local production if any, (d) other factors. Data is from https://tradingeconomics.com/country-list/gasoline-prices.
1. Indonesia. I think they still retain the oil price subsidy until today although at a lower rate than before. While expensive oil is bad,f subsidized oil can also be bad because people would use more than necessary. Thus, instead of having only one car for the family, get two.
2. Malaysia. Also has oil price subsidy but not as high as those in Indonesia.
3. Vietnam. Perhaps they do not have oil subsidy, and neither distorting the price upwards via oil taxes?
4. Philippines. Distorted oil prices via TRAIN law, part 1 implemented in January 2018, part 2 in January 2019, and part 3 in January 2020. Diesel tax was zero until 2017, P2.50/liter in 2018, P4.50 this year, and P6.00 next year.
5. Thailand. Perhaps no oil subsidy too.
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See also:
1. Indonesia. I think they still retain the oil price subsidy until today although at a lower rate than before. While expensive oil is bad,f subsidized oil can also be bad because people would use more than necessary. Thus, instead of having only one car for the family, get two.
2. Malaysia. Also has oil price subsidy but not as high as those in Indonesia.
3. Vietnam. Perhaps they do not have oil subsidy, and neither distorting the price upwards via oil taxes?
4. Philippines. Distorted oil prices via TRAIN law, part 1 implemented in January 2018, part 2 in January 2019, and part 3 in January 2020. Diesel tax was zero until 2017, P2.50/liter in 2018, P4.50 this year, and P6.00 next year.
5. Thailand. Perhaps no oil subsidy too.
See also:
Energy 120, US-Russia rivalry in oil-gas dominance, February 04, 2019
Energy 121, US oil and natgas production, February 23, 2019
Energy 122, TAPP roundtable on the power sector, April 07, 2019
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