Why is there a cloud pricing premium in APAC vs. US or EU?

This has bugged me for years now, but are there simple reasons for why they're slightly more expensive in APAC besides not having as much cloud competition? Or is it skewed due to the higher costs of running it out of Singapore where utilities are just as expensive? Doesn't explain the Jakarta instance pricing though.

For example, have a look at AWS EC2 pricing here: https://aws.amazon.com/ec2/pricing/on-demand

Azure: https://azure.microsoft.com/en-us/pricing/calculator/

Google Cloud: https://cloud.google.com/compute/all-pricing

fly.io: https://fly.io/docs/about/pricing/#outbound-data-transfer

Neon: https://neon.tech/pricing

Or am I just completely wrong where cloud pricing in certain regions are still based more on value-added pricing due to smaller / later cloud adoption?

- FWIW, Neon is also built on top of AWS, so AWS definitely a contributing variable to their pricing.