PHILIPSBURG--As indicated by acting Minister of Tourism, Economic Affairs, Transport and Telecommunication (TEATT) Omar Ottley during Wednesday’s press briefing, the prices of gasoline and diesel fuel was decreased effective 6:00am, Monday, August 15. A further price decrease is expected in early September, the Ministry of TEATT announced Friday.
The price at the pumps for unleaded gasoline were reduced by 44.5 cents from NAf. 3.014 per litre to the new price of NAf. 2.569 per litre.
The price for diesel fuel was reduced from NAf. 2.929 per litre to the new litre price of NAf. 2.877.
“The delay in the price drop amidst the drop in fuel prices in the world market is attributed to delays of price increases on the local market, given the plight of the people,” the TEATT Ministry said.
“Though the delays started in the third quarter of 2021, between the months of April and June 2022 in particular, the government of St. Maarten held off on two price changes (increases), while the prices on the international market continued to rise. This action resulted in significant accumulated losses for the main wholesaler. The main wholesaler has now informed the government of the pending decreases in fuel prices and as such regular price changes will now resume,” the ministry explained.
The TEATT Ministry reminded the public that the price of fuel is influenced by a “plethora” of factors outside of its control. “As a non-oil producing country, like many others, we will feel the brunt of these external factors. While prices internationally continue to drop, prices continue to remain volatile.”