petrol price increase singapore
It was announced that price increases were planned to bring fuel prices in line with global market cost, suggesting that it may hit US$3.80 per gallon by August. Active taxi and private car hire drivers using petrol and petrol hybrid vehicles will receive a petrol duty rebate of S$360 given out over four months. “Climate change is real and urgent. A car-lite society will continue to be our main goal. While prices have been increasing in recent weeks, this remains historically low when compared to 2015 and 2013, when petrol prices spiked near S$ 2.55 per litre. Petrol Prices in Singapore According to Global Petrol Prices, a liter of petrol averaged S$2.01 in Singapore during the week ending February 6th, 2017. 409 talking about this. This economic term means that Singapore imports more oil than is produced each year domestically. Updated: 27 December 2019. Tuesday 6 April 2021 - 9:13am Petrol pumped into a vehicle. According to Bloomberg, a barrel of West Texas Intermediate (WTI) crude was at a record low of US$1.69 at 9.40pm on Monday, while Brent crude was at US$25.92 – down from around US$66 and US$74 respectively 12 months ago. Individual owners of smaller motorcycles of up to 400cc will receive either S$50 or S$80 in cash depending on engine capacity, he added. Sharon See sharons@sph.com.sg@SharonSeeBT. Meanwhile, diesel (0.05% Sulphur) will increase by 65.20 cents a litre, while the price of diesel (0.005% Sulphur) will increase by 63.20 cents a litre. Highlighting how Singapore has seen "positive outcomes" from the restructuring of diesel taxes in 2017 and 2019 to move towards a usage-based tax system, Heng said that this change will keep the momentum towards a more "efficient use of fuel or environmentally-friendly alternatives". To ease the transition for Singaporeans, especially those who rely on their vehicles for their livelihood, Mr Heng also announced a slew of road tax rebates. | For comparison, the average price of gasoline in the world for this period is 1.99 Singapore Dollar. The additional petrol duty rebates for motorcycles, taxis and private hire cars will be introduced by the middle of 2021, with more details will be released by the Land Transport Authority (LTA) in April, Mr Heng said. Esso. Change password, update personal details and more. SPC. All road tax rebates will take effect from August 1, 2021, and will be applicable for one-year until Jul 31, 2022. February 16, 2021, 04:50 PM, West Lawn (next to Bayfront Plaza), Gardens by the Bay. For intermediate petrol, the duty will be raised by 10 cents per litre. So many driver don't mind the higher price. For premium petrol, the duty rates will be raised by 15 cents per litre. you can check revised petrol and diesel price from other country fuel retailer here. Petrol pump prices have gone up to what they were before the circuit breaker, hitting their highest in almost a year. Rebates provided for those who depend on their vehicles for a living. With the 15 per cent road tax rebate for cars, the minimum road tax payment for petrol and petrol-hybrid off-peak cars and revised off-peak cars will be reduced from S$50 to S$43 and from S$70 to S$60 respectively between Aug 1 and Jul 31, 2022, said LTA in the media release. It is important to understand that Singapore is a net importer of crude oil. The petrol price hike was announced by Deputy Prime Minister Heng Swee Keat during his Budget speech last Tuesday, which saw duty for premium grade petrol rise by 23 per cent and that for intermediate grade petrol by 18 per cent. RAISING the petrol duty is a move meant to set price signals and change behaviour as part of a deliberate decision to protect the environment, Deputy Prime Minister Heng Swee Keat said. With the 60 per cent road tax rebate for motorcycles, the road tax payable for petrol and petrol-hybrid classic motorcycles will be reduced from S$280 to S$112. Diesel prices rose by MYR1.00/litre to MYR2.58 (US$3.04 per gallon), a 63% increase. SINGAPORE – Motorists have to pay more when refuelling their petrol tanks as the government has raised petrol duties with immediate effect. In addition, individual owners of smaller motorcycles up to 400 cc will receive S$50 or S$80 in cash, depending on their engine capacity. Prices went up by as much as 25 cents per litre for 98-octane petrol and 18 cents for 95-octane petrol. This is up from S$1.96 in January 2017 and S$1.91 during November 2016. Prices and Price Indices : Consumer Price Index (2019 as Base Year) Mar-21: 101.2: 1.3: 101.0: 0.7: Domestic Supply Price Index (2018=100) Mar-21: 98.0: 9.6: 94.4-0.7: Singapore Manufactured Products Price Index (2018=100) Mar-21: 94.6: 2.4: 91.3-3.5: Import Price Index (2018=100) Mar-21: 99.7: 8.3: 97.8: 0.7: Export Price Index (2018=100) Mar-21: 96.3: 3.5: 94.4-1.9: Sea Freight Transport Price Index Inland Fuel Prices (Zone 9C) INLAND FUEL PRICES (Zone 9C) Petrol 95 ULP: Petrol 93 ULP & LRP: Diesel * 0.05% S: Diesel * 0.005% S: Illuminating Paraffin The cost of living rose to 0.7% in March, from 0.4% in February, as fuel, transport and clothes prices increased. Check out 2020's edition of Singapore Petrol Prices here. The Singapore government is increasing the petrol duty effective today (Feb. 16). A majority of which will be allocated into the Jobs Growth Initiative. Many nations are net importers of oil, and it is not surprising that Singapore looks … The road tax rebates and the additional petrol duty rebates will be disbursedautomatically to those eligible, and there is no need to apply, said LTA in a separate press release on Tuesday. 2021-04-15. Similar fuel price revision seen in other country-owned fuel retailers. Goods vehicles and buses using petrol will receive a 100 per cent one-year tax rebate, and cars using petrol will receive a one-year road tax rebate of 15 per cent, he added. Contact us He expressed his "deepest appreciation" to all the healthcare workers. Gasoline Prices in Singapore averaged 1.50 USD/Liter from 1990 until 2021, reaching an all time high of 1.80 USD/Liter in June of 2015 and a record low of 0.61 USD/Liter in December of 1990. Visa Card. “Usage based tax has helped shape consumer behaviour towards a more efficient use of fuel or environmentally friendly alternatives,” he said in his Budget speech. JOHANNESBURG - The price of petrol … We must act now. Further updates will be shared by MOH this evening. Behavioural changes take time.”. The petrol duty rate for intermediate petrol will also be raised by 10 cents, he announced. $2.31 $2.31 - $2.31 - 95-Octane. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Last week, just one day after the government announced an increase in petrol tariffs to encourage less car usage and reduce carbon emissions, pump prices went up across the board at all four petrol retailers in Singapore – Esso, Shell, Caltex, and SPC. However, given the current increased international petroleum prices, and the volatility of the Rand against the US Dollar, it is likely the price of a litre of petrol will increase, in the short term at least. The Government will be spending more than S$60 billion within this decade to expand and renew Singapore’s rail network, he added. For active taxi and private hire car drivers using petrol and petrol hybrid vehicles, the budget provides petrol duty rebates of S$360 given out over four months, said Mr Heng. Yup, this means your overseas online shopping. Copyright© Mediacorp 2021. Joshua Lee 22% off petrol/diesel … [SINGAPORE] Fuel pump prices have not moved since late March, despite crude oil prices falling to below zero on Monday before rebounding. This is up from S$1.96 in … Mobil & Esso currently not available. Meet Letlhogonolo Motseeng, the brain behind … To share the development of fuel price and discounts from various fuel stations in Singapore SINGAPORE: Petrol duty rates will be raised by 15 cents per litre for premium petrol from Tuesday (Feb 16), said Deputy Prime Minister Heng Swee … The price of illuminating paraffin (wholesale) will … Mediacorp Pte Ltd. All rights reserved. “Overall, these measures will work towards reshaping our transport footprint, towards cleaner transport.”. S'pore petrol duty increases by up to 15¢ per litre from Feb. 16, 2021. last price updated on 03rd May 2021. meREWARDS lets you get coupon deals, and earn cashback when you complete surveys, dine, travel and shop with our partners. Taken together, all the road tax measures will offset about one year of petrol duty increases for taxis and motorcycles, and about two-thirds for commercial vehicles and cars, he added. This service is not intended for persons residing in the EU. $2.35 $2.35 $2.35 $2.35 $2.32 98-Octane. May petrol price: MORE increases coming – as another grim record looms Tom Head. Dee Kosh has apparently given his blessings for the new channel. Depending on whether the BFP increases or decreases during April going into May, a calculation that still needs to be done, the price of a litre of petrol could either increase or decrease. The new prices which includes international crude oil prices,currency exchange rate and country levies. Petrol price after recent revision, a liter of Petrol will cost USD 1.74 per litre in Singapore. Updates: For the week of 29 Apr 2021 to 5 May 2021, the fuel prices of RON95 and RON97 will remain unchanged at RM2.05 and RM2.58 per litre, … The COVID-19 pandemic has given Singapore an opportunity to change work and travel habits as remote working arrangements become more common, he added. | 2019 is over! 92-Octane. Heng said that the move is necessary to meet needs such as healthcare. Most of the expected revenue increase from the petrol duty changes in the coming year will be given out through the offsets, estimated to cost S$113 million, said Mr Heng. Sinopec. | Petrol prices have been surging in Singapore as of late. If you’re still driving a car, these credit card discounts and price comparison might come in handy in saving some dollars! If you like what you read, follow us on Facebook, Instagram, Twitter and Telegram to get the latest updates. SINGAPORE: Petrol duty rates will be raised by 15 cents per litre for premium petrol from Tuesday (Feb 16), said Deputy Prime Minister Heng Swee Keat. The vouchers can be used in participating heartland shops and Hawker centres. Three key enablers in Singapore's journey to sustainability: Technology, capital and action of our people. The most popular 95-octane grade petrol, for instance, has risen about 10 cents since January to S$2.31 a litre before discount at Singapore Petroleum Company (SPC), … The road tax payable for petrol and petrol-hybrid Classic cars will be reduced from S$280 to S$238.