Have you ever wondered how many litres of petrol you can buy with an average Malaysian salary? Well, good news, because Picodi Analysis has prepared a report that considers the average monthly salaries and petrol prices in 17 countries in the Asia-Oceania region, with the addition of Hong Kong.
According to the report, Malaysia has the cheapest petrol in the region, where on average, one litre of petrol costs US$0.49 (RM2.05). Meanwhile, the most expensive place to fill the tank is outside the region in Hong Kong, with the average price per litre being US$2.15 (HKD16.89, or RM8.85).
With a salary of US$843 (RM3,494), you can therefore buy 1,707 litres of petrol with your salary in Malaysia. However, it is Australians that have the best ratio of petrol price to the average salary in the surveyed region, as an average salary of US$3,682 (AUD 5,256, or RM15,153) and fuel price of USD$0.97 (AUD 1.39, or RM3.99) per litre equates to 3,783 litres of petrol purchasable.
Coming in second place is Japan with 2006 litres, followed by South Korea in third with 1,908 litres, New Zealand in fourth with 1,852 litres. Malaysia is fifth in the 17-country survey, just ahead of Singapore with 1,598 litres. On the bottom end of the survey is Pakistan (192 litres), Cambodia (181 litres) and finally, the Philippines (158 litres).
Looking beyond the 17 countries surveyed, Picodi also considered average wages and petrol prices in over 100 countries across six continents. Based on its findings, Venezuela came first as the average salary of US$29 (RM119) nets you over 14 billion litres of petrol, which is priced at US$0.000000002 (RM0.0000000082) per litre.
Persian Gulf countries like Qatar, Kuwait and the United Arab Emirates had fuel prices of between US$0.40 (RM1.65) and US$0.60 (RM2.47), and with their respective average salaries, buyers there can get between 4,900 to 6,500 litres of petrol.
The company also explained the high positions of countries like the United States and Canada can be explained not only by high salaries but also the amount of extracted oil, while Switzerland and Luxembourg stand out with high incomes only.
As for the lowest amount of petrol that can be bought, you’ll need to go to Madagascar (42 litres), Tajikistan (131 litres) and Zambia (137 litres). The study also revealed countries that possessed a rich supply of natural resources do not always mean that petrol will be more accessible for an average consumer, as is the case in Nigeria.
To prepare the report, the firm used the average nett wages based on the latest available data provided by offices for national statistics or relevant ministries. The average prices of fuel for the first half of 2019 in over 100 countries were also taken from globalpetrolprices.com and other local sources.
The number of litres purchasable is then calculated by dividing the average wage by the average price of one litre of petrol, and to standardise the currency used in this analysis, the average exchange rate for the last 90 days is taken in account.