The premium for car ownership certificates in Singapore continued to surge in the bidding on Wednesday, with the premium for small cars hitting an all-time high of 92,100 Singapore dollars (75,492 U.S. dollars).

The premium for the Certificate of Entitlement, which is required for anybody who wants own a car and is available through open bidding in Singapore, has been rising in recent years, driving up the costs for private road transport.

The premium for big car category also increased by 2,709 Singapore dollars to close at 96,210 Singapore dollars (78,861 U.S. dollars). The open category also saw an increase of 111 Singapore dollars to 96,101 Singapore dollars.

Singapore has been known for its policy of managing the total number of the vehicles on the road and road pricing to ease congestion. (1 U.S. dollar = 1.22 Singapore dollars) Enditem

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