Gas price increase due to world market effects

Gas price increase due to world market effects

All pumps were in use at the SOL gas station on L.B. Scott Road on Friday evening, prior to the announced price increase for gasoline.

~ Promised relief ‘forthcoming’ ~

PHILIPSBURG--As the prices for gasoline continue to rise on the international market, the Ministry of Tourism, Economic Affairs, Transport and Telecommunication (TEATT) said there was a need to have a price change once again. As of 6:00am on Saturday, June 18, the price for gasoline will be increased from NAf. 2.822 to the new price of NAf. 3.294 per litre. The price for diesel fuel will be decreased from the current price of NAf. 2.693 per litre to the new price of NAf. 2.562. The last price increase in St. Maarten was on April 11.


The Ministry of TEATT said in a statement on Friday it had hoped that by now the fuel relief would have been approved and brought into effect prior to any global increases, given the plight of the people. “Unfortunately, this was not possible within the intended time-frame and the ministry could not delay the price change any longer,” the ministry said. As a result, the price of gas has seen an increase of 47 cents, while the price of diesel has decreased with 13 cents.
The Ministries of TEATT, Justice and Finance say they are “working diligently” on implementing the promised relief, which should be forthcoming in the week ahead.
The TEATT Ministry also reminded the public “that the price of fuel is influenced by a plethora of factors outside of government’s control and that as a non-oil producing country, like many others, we will feel the brunt of these external factors. Additionally, when we compare the increase in the United States where the average price has more than doubled, naturally, as an importing country of fuel, the price of fuel will also be affected on the island.”
The government said it is cognizant that this price increase is large. “We are doing everything in our power to prevent such. However, as mentioned previously, given the current level of the world market price, we have no choice but to increase same.”
Drivers were advised to adjust their driving habits and limit speeding, as this consumes more fuel, and ensure their cars are tuned up. They should drive efficiently, as opposed to back and forth, and to avoid unnecessary driving, as this would lower the frequency of having to fill up.
“These are challenging times, mainly and especially due to the War in Ukraine (or the Invasion of Russia into Ukraine) and these international developments are beyond our control. We hope and pray that things turn around quickly and that prices return to their normal levels,” TEATT said.

The Daily Herald

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