Petrol duty raised, CEVS refined

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.