All cars leaving Singapore must have the petrol tanks filled to 3/4 tank full.
Lately, Malaysia has also come up with a ruling that does not allow foreign registered vehicles to pump more than 20 litres of petrol at any petrol stations within 50 km of any exit points.
What is the rationale for this decision?
For Singapore, it seems that the Government wants to prevent people from crossing over to Malaysia to buy cheap petrol. This 3/4 tank ruling was put in place so as to prevent that. The government earns revenue from taxes placed on petrol and this measure would help to prevent any loss in revenue.
For Malaysia, it seems that they have a problem with fuel smuggling especially at the border with Thailand. As the Malaysian government heavily subsidises the petrol, they do not want these subsidies to be passed on to foreigners.
What about the consumer?
A lot of people are clearly unhappy with these rulings but it seems that this will not go away anytime soon.
The amount of money I could save if I pumped my petrol at malaysia would be tremendous. I could easily spend half the money that I usually would on petrol. Never mind the inconvenience.
The best I can deal with this now is to make sure that I pump just up to 3/4 tank when I leave Singapore for any trip to Malaysia. I then make sure that I pump a full tank before arriving back in Singapore.
For those worried about the 20 litre rule, just make sure that you pump once before entering the 50 km radius of the Johor CIQ or Tuas Checkpoint.
I have also heard that some petrol stations are not as strict and simply let you pump 20 litres, reset the pumps and then pump 20 litres again. It will be extremely hard for anyone to police this as the petrol stations also do not want to lose money just because of a ruling. There are many grey areas as nothing is stopping motorists from pumping at multiple stations within the 50km radius.
This blog is about financial freedom and serves to inform, educate and entertain the public on all personal finance matters. The author of this blog has been blogging for 5 over years. He was also a guest blogger at CPF's IMSavvy site (now AreYouReady site). This blog is visited by many unique readers from various countries every month. Do bookmark this blog and leave your comments.
Subscribe to:
Post Comments (Atom)
Featured Post
Unlock Exclusive Deals and Savings: Join Amazon Prime Today!
Amazon is celebrating Prime members with a multitude of deals during Prime Day. The event will offer more deals than ever before, with new d...
-
Civil servants or public officers in Singapore are expected to declare their financial standing when they first join and every year thereaft...
-
Trying to compile the salary pay scale for the Singapore civil service. Somehow, I only managed to find the figures for 2011. There are p...
-
In my previous article , I compared an endowment plan with an ILP. Many might think that an ILP is a silly way to save for my child's ed...
-
Everybody loves free stuff. So as part of the Christmas Celebrations, I am giving away MONEY! ANYONE can earn it. Just leave a comment on th...
-
How much does a normal or average Singaporean earn? Based on median income, that is supposed to be $2,400 per month and raised to over $300...
-
Networth as of Feb 2010 is estimated around $652,000. A slight drop from Jan 2010. The decline in networth was due to a slight drop in my ...
-
“We are more than that; we are in the business of creating time.” - Tay Liam Wee Mr Tay Liam Wee has an estimated networth of around S$135m....
-
Here are some frequently asked questions about sgfinancialfreedom: Q: How do you compute your networth? A: I compute my networth by adding m...
-
As most of you know by now, I have started a POSB Kids Savings account for my child. The main purpose of this account is to save for his un...
-
I can't sleep. I am worried about my finances. So I am up now counting my money in all the places that I have. Sometimes I forget that...
No comments:
Post a Comment