Sunday January 08, 2006

Brunei to restrict retail fuel sales to foreign drivers

channelnewsasia.com :

Oil-rich Brunei plans to restrict retail sales of heavily-subsidised gasoline (petrol) and diesel fuel for the first time in the face of widespread purchases by foreigners. Beginning on New Year's Day, motorists will be allowed to buy only one full tank of gasoline or diesel each time they fill up, to a maximum of 250 litres. While foreign-registered vehicles will still be allowed to fill up, only holders of Brunei identity cards will be permitted to fill additional containers, up to a maximum of 100 litres.

Gasoline sells in Brunei for about 50 Brunei cents (31 US cents) a litre, or about 30 percent cheaper than in Malaysia or Indonesia. A government statement said the new controls were designed to control a drastic increase in diesel fuel sales which rose by 13 percent this year.

- Due to some historical agreement, the Brunei dollar and the Singapore dollar are pegged at a 1:1 exchange rate. The current price of petrol is around $1.50 per litre here in Singapore. So, petrol in Brunei is a staggering 3 times cheaper! Too bad it's a little too far to go pump petrol there - with or without extra containers.

(2006-01-08 23:00:50 SGT) [Energy] Permalink

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