Petrol tax hike won't see quick switch to electric vehicles: car rental firms
Singapore
RAISED petrol duties could end up hurting passengers of private-hire cars in Singapore, as car rental firms are unlikely to switch to electric vehicles immediately.
Rental firms The Business Times spoke to said they would look into eco-friendlier vehicles only further down the road, citing a lack of affordability and infrastructure.
To further discourage the use of petrol-powered vehicles, petrol duties were raised on Tuesday, by 15 cents per litre for premium-grade petrol and 10 cents per litre for intermediate-grade petrol.
The hikes, announced by Deputy Prime Min…
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Bank of Korea chief signals readiness to deal with volatile currency moves
Banks told to anticipate risks from using AI, machine learning
Earthquake jolts southern Japan’s Ehime, Kochi prefectures
Climate impacts set to cut 2050 global GPD by nearly a fifth
G7 foreign ministers meet in Italy amid calls for sanctions on Iran
IMF calls for fiscal restraint in year with most elections ever