Gas prices to
increase soon
PHILIPSBURG--Tanking up at gas stations will cost more in the coming days when the Executive Council approves an NAf. 0.10 per litre price increase in the first price hike of the year. The current price for gasoline stands at NAf. 2.10 per litre.
Economic Affairs Commissioner Maria Buncamper-Molanus told members of St. Maarten Hospitality and Trade Association (SHTA) Thursday that this increase should be no surprise, taking into consideration the current oil price on the world market.
She added that while this increase would not be welcomed by anyone, it was necessary, as crude oil continued to cost more than US $100 per barrel.
The commissioner, who was a panellist at the SHTA general membership meeting held at Sonesta Great Bay Beach Resort, did not disclose the exact day the price increase would be approved by the Council or the expected implementation date.
The last gas price hike to NAf. 2.10, a record high for the island, went into effect on November 21. This was an increase from NAf. 1.95, the price at the pump in June 2007. The price for diesel fuel and liquid propane gas (LPG) is also expected to go up in the coming days.
The last time motorists enjoyed a price decrease was in November 2006.
Speaking at the same meeting, Finance Commissioner Roy Marlin said it was time for the gasoline excise tax of NAf. 0.29 per litre to be removed by the Central Government. Having this tax removed is a job for the island’s Central Government representatives, he explained.
The excise tax generates more than NAf. 10 million per year, of which St. Maarten receives some NAf. 3.3 million. By removing the excise, the price of fuel, once the new price kicks in, will be lowered from NAf. 2.20 to NAf. 1.91 per litre.
“This can be considered a temporary relief measure, but a measure which would help curb the high cost to the community in general and definitely affect the bottom-line figures of doing business in St. Maarten,” Marlin said.
