Relief on Gas prices to go into effect tomorrow

June 22, 2022 4:00 pm

The Ministers of Finance, Justice, and the acting Minister of TEATT, Omar Ottley, would like to inform the public that the long-awaited relief on gas prices will go into effect on Tuesday June 21, 2022.

The relief consists of a reduction in the import duty (formally referred to as excise tax in the price build up model) from NAf 29 cents to NAf 15.5 cents per liter.

As a result of this, the previously published prices for the sale of gasoline will drop from NAf 3.294 to 3.145 per liter, resulting in a savings of roughly NAf 15 cents per liter.

Considering that the import duty (or excise tax) is not applied to diesel, the price of diesel will remain unchanged at NAf 2.562 per liter. The foregoing relief will remain in place for a maximum period of 6 months.

The Government of Sint Maarten would like to remind the public that the price of fuel products on the world market remains highly volatile and as such the population should be prepared for more frequent fluctuations in prices for the coming months.