This is the gasoline or petrol prices in comparing the two countries that have near similarity in the National Flag. U.S. citizens are currently paying 3 US dollar per gallon in their gas stations while Malaysians are paying higher petrol prices effective as at 2nd October 2014 at Ringgit Malaysia 2.30 per liter. We may assume that the past 10 months US gasoline had gone down from about 3.60 to 3.00 while Malaysia petrol prices remained 2.10; Crude Oil had drop near 80 when I work on this post.
If a gallon of gasoline is equivalent to 3.8 liters of petrol, U.S. citizens are currently paying 79 cents per liter of gasoline in their gas stations as compared to 2.30 ringgit per liter in Malaysia petrol stations. If the conversion rate is RM3.30 over $1 today, it is about 70 cents per liter in US dollar term in Malaysia petrol stations.
Now, look at the average income in year 2013 between the two countries as recorded in the website of wikipedia.org ( that is, the GNI per capita of U.S. citizen is $53,670 while Malaysian is $10,400 ), U.S. citizen will have much more spending power ( 5 times ) than Malaysian while having almost the same level of gasoline or petrol prices as mentioned in the above paragraph. What I manage to digest here is ...
- $50,000 income earned in US, we just pay $0.79 per liter while $10,000 income earned in Malaysia, we pay $0.70 per liter of gasoline or petrol.
- Malaysian will be spending about 16% of the monthly income on petrol while U.S. citizen at 3.5% by assuming an average 200 liters monthly petrol consumption ( or, Malaysians spend $140 per month while U.S. citizens spend $158 per month based on the above assumption ).
- U.S. citizens still have balance 96.5% or $4,315 every month while Malaysians only have $727 on the 84% balance after deducting petrol consumption expenses.
- $4,315 minus $727 is equivalent to $3,588 which will be extra spending power that Malaysian wish to have like US citizen.
- Can the monthly extra $727 build a better future than the $4,315?
By just reading the above FIVE points, it is sad to tell the Malaysian Government that even when we reach the developed country status in year 2020 at $12,000 on the average income in US Dollar term, we are still much far behind the developed country on our general spending power. To all Malaysian, it is not meant to ask you to migrate for better living, working up the ladder of developed country status is your duty too.
Double up your effort to go above the year 2020 target level and you will surprise to see that the spending power in percentage basis is actually dropping near to the average U.S. citizens with just about 3.5% difference. In conclusion, it is believed that the 7% of your monthly income on petrol consumption bills will definitely create a better future for yourself and the country too.