Gasoline goes up today in St. Maarten (see related story) by 10 Netherlands Antillean guilder cents per litre, dashing any hope of a decrease after recent fluctuations in global oil prices. In fact, this is the second consecutive hike following one of eight cents on October 12.
It concerns another blow to consumers who have seen the cost-of-living rise sharply over the past few months due to worldwide inflation. Mitigating this negative impact of, among other things, the war in Eastern Europe is something most countries are currently struggling with.
The so-called basket of basic goods under maximum price control was expanded from 12 to 72 products in August, although what that means to the average household’s grocery bill is not yet completely clear. After some initial back-and-forth with importers and distributors, the new system appears to have been processed relatively smoothly. In Curaçao, for example, a similar initiative prompted the threat of a court case and reversing the measure.
Government also provided relief to motorists last June by reducing the import duty known as excise tax on gasoline. However, this was done for a maximum six months, which means it ends on December 21.
Unless fuel prices go down dramatically by then, which seems highly unlikely at this point, an extension – if financially responsible – during at least the first quarter of 2023 must be seriously considered. Should people’s spending power keep dropping, it will have further detrimental socioeconomic consequences and could even jeopardise a still-fragile recovery from the COVID-19 crisis.
