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SINGAPORE: The government has no plans to lower the rate of petrol duty despite higher oil prices.
Minister of State for Finance and Transport Lim Hwee Hua said this is because petrol duty is a vehicular usage tax aimed at discouraging the excessive use of cars and promoting the greater use of public transport, and these objectives remain relevant.
Mrs Lim was replying to a question posed by MP for Aljunied GRC, Mrs Cynthia Phua, in Parliament on Friday.
Mrs Phua had asked if the government would review its tax policy on petrol, diesel and natural gas to help reduce business costs for transport operators, businesses, as well as commuters.
Mrs Lim explained that higher pump prices does not mean the government gets to collect more petrol duties.
She said: "The excise duty on petroleum is imposed on volumetric bases of 41 cents a litre for 92 and 95-octane petrol, and 44 cents a litre for petrol rated 97-octane and above. The excise duty is therefore a fixed sum per litre of petrol."
There is no excise duty on diesel, fuel oil and natural gas used for generating power.
- CNA/so
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