Therefore, as of Monday 11:58 pm, unleaded gasoline will be reduced from Naf 2.25 per liter to Naf 1.90 per liter. Diesel will be reduced from Naf 2.05 per lieter to Naf 1.80 per liter.
"In the last month, international crude oil prices tumbled by over US $40 a barrel as indications has shown less demand for oil. The decline came after it was indicated that US domestic crude oil stock piles rose more than expected. Crude oil prices have now fallen below $70 a barrel compared to July when oil was trading at US $145 a barrel," the Commissioner said.
Taken this into account, Buncamper-Molanus continued, the Department of Economic Policy & Research recommended an immediate price reduction on unleaded and diesel gasoline.
"As we continue to do everything possible to stem the impact of the global financial situation on the economy and overall life on St. Maarten, this reduction at the pumps should come as a relief to consumers," the Commissioner added.
