(Photo Credit: iStock)
Don't bother rushing to your nearest petrol kiosk because additional petrol duties have been put in place with immediate effect.
For the first time since six years ago, petrol duties will be raised following the announcement by Deputy Prime Minister Heng Swee Keat in the 2021 Singapore Budget.
Effective from 16 February 2021, duties for premium petrol (98 Octane and above) will be raised by 15 cents per litre to 79 cents per litre, whereas intermediate petrol will see a rise of 10 cents per litre to 66 cents per litre.
However, vehicles will also enjoy road tax rebates for a year, from 1 August 2021 till 31 July 2022.
Motorcycles will have a 60% rebate of road tax, in addition to S$50 or S$80 of additional petrol duty rebate, depending on engine capacity.
Both private hire cars and taxis will enjoy a 15% road tax rebate during this period, with taxis also benefitting from S$360 in additional petrol duty rebate.
On the other hand, buses and goods vehicles will gain 100% road tax rebate.
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