SINT MAARTEN: Lower fuel prices came into effect on Monday August 15, 2022


As Acting Minister for Tourism, Economic Affairs, Transport and Telecommunications (TEATT), Omar EC Ottley, hinted at a press conference last Wednesday, petrol and diesel prices experienced a decline starting Monday, August 15, early in the morning. A further drop in prices is expected in early September.

Also according to the Ministry of TEATT, the delay in lowering prices amid decreasing fuel costs in the global market is attributed to delays in price increases in the local market, given the difficult situation of the people. Although the delays began in the third quarter of 2021, between the months of April and June 2022 in particular, the government of Sint Maarten delayed two price changes (increases), while prices in the international market continued to increase . This action resulted in large cumulative losses for the main wholesaler. The latter has now informed the government of the impending fuel price cuts and as such regular price changes will now resume. 

The pump price for unleaded petrol has been reduced by 44,5 NAF cents (Netherlands Antilles guilder) from 3,014 per liter ($1,68) to the new price of NAF 2,569 per liter ($1,43 ). The price of diesel fuel has also been reduced from NAF2,929 per liter ($1,63) to NAF2,877 per liter ($1,60). The Ministry of Tourism, Economic Affairs, Transport and Telecommunications would like to remind the public that the price of fuel is influenced by a plethora of factors beyond their control and that as a non-oil producing country, like many Others, moreover, the weight of these external factors is felt. As international prices continue to fall, prices remain volatile. On the French side of the island, prices at the pump are currently €1,51 per liter for petrol (SP 95) and €1,57 per liter for diesel. In mainland France, after a historic peak in the cost of fuel and a downward trend that began in June 2022, we are witnessing a reduction in diesel prices while unleaded gasoline is maintained. _VX


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