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Petrol duty raised, CEVS refined
Published Mon, Feb 23, 2015 · 09:50 PM
Singapore
PETROL excise duties were raised by up to 45 per cent on Monday, with the change to yield S$177 million a year. But with falling oil prices, Finance Minister Tharman Shanmugaratnam said pump prices will still be lower than the levels seen in the last two-and-a-half years.
"To encourage less car usage and reduce carbon emissions, I will raise petrol duty rates which have remained unchanged since 2003," he told Parliament.
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