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3/05/2008

Returning some petrol tax dollars to consumers

If I am not mistaken the petrol tax is based on a fixed percentage of the petrol price. The price has gone up from around $1.80 or less to above $2.00 on average recently. This means that petrol tax collected will proportionally increase by about 10%. Would be nice if the tax can be adjusted downwards just a little to keep petrol price from running away. Transportation cost for all goods and services will go up accordingly if petrol price is allowed to go up unchecked. The repercussion is very pervasive. I already hear people saying 'Fat Hope' that petrol tax will be reduced. Don't ever dream of it. High petrol price is due to external factors beyond our control.

4 comments:

Pap Best said...

Cannot reduce the tax as we need to squeeze more money out of you peasants in order to pump more money into failing American banks. Citibank stock just hit a nine year low so now is a good time to rush in.

redbean said...

pap best, welcome.

who says we pump money into american banks? have you heard of singapore city bank, united bank of singapore(ubs), hongkong and singapore banking corporation(hsbc), singapore chartered bank, maybe singapore bank corporation(sbc)...

Anonymous said...

Why no one bother to ask the minister Dr Lim Boon Yang regarding 'keeping the petrol price in check'? Since he assured that during last GE if the people elect them back into the pot of gold, thats what he will be looking into?!

I hope all of them end up in the pit of shit instead....

Matilah_Singapura said...

There is very little chance of petrol tax dropping. Govt's are ADDICTED to revenue--they rarely give up a revenue stream, especially a lucrative and recession proof one.

Today Caltex Aust annoounced that petrol will hit AUD3 within 10 years.

Also, when they introduce carbon trading, you'll be paying another 20-50 cents a litre.