PHILIPSBURG:--- Residents of St. Maarten can expect some relief at the pumps as the Government of St. Maarten has announced new, reduced prices for petroleum products. The updated prices follow the restocking of Unleaded Gasoline (ULG) and Diesel at lower costs due to favorable international market trends. This adjustment is effective as of April 28, 2023, at 6:00 AM.
Price Changes at a Glance
The new maximum consumer prices for petroleum products are as follows:
-
ULG (Gasoline):
- Previous price per liter: Naf 2.320
- New price per liter: Naf 2.147
-
Gasoil (Diesel):
- Previous price per liter: Naf 1.882
- New price per liter: Naf 1.766
This reduction reflects a decrease of Naf 0.173 for gasoline and Naf 0.116 for diesel, providing tangible savings for consumers.
Breakdown of Fuel Pricing
To promote transparency, the Government has shared a detailed breakdown of the factors influencing the price adjustments. The components considered in the final cost include:
- Petrotrin Posted Price: The cost of fuel internationally dropped to 1.103 Naf per liter for gasoline and 1.065 Naf per liter for diesel.
- Freight Costs: These remain fixed at 0.107 Naf per liter.
- Taxes and Margins:
- Turnover tax for retailers is set at 5%, while margins for wholesalers and retailers are 0.230 Naf per liter and 0.145 Naf per liter for gasoline, respectively.
The maximum wholesale and consumer prices, inclusive of taxes, reflect the lowered base costs.
Reason for the Adjustment
The price reduction stems from ongoing developments in the international energy market, leading to a more favorable environment for fuel imports. The Government aims to ensure that these savings are directly passed on to consumers by regulating maximum retail and wholesale prices.
Impact on Consumers and Businesses
This adjustment is expected to provide much-needed financial relief to both residents and businesses on the island. With lower operational costs driven by reduced fuel prices, sectors such as transportation, logistics, and tourism will likely benefit from this change. Individual consumers will also feel the impact through reduced expenses for personal commuting and household energy needs.
The Government reaffirmed its commitment to monitoring global market trends and ensuring that any further changes in petroleum costs are reflected appropriately. Residents are encouraged to take advantage of the new prices, knowing that the pricing system is designed to be fair and responsive to international cost fluctuations.
For more information or inquiries, the public can contact the Ministry of Tourism, Economic Affairs, Traffic, and Telecommunication through their official channels.
