Gas prices rise again SaturdayPOSTED: 04/1/11 1:02 PM
St. Maarten – Gasoline and diesel prices will rise by nine and seven guilder cents respectively as of Saturday. This is the fourth time this year those prices are being adjusted.
As of Saturday the price of gasoline will go from 2.33 guilders ($1.29) to 2.42 guilders ($1.34) and the prices of diesel will go from 2.10 guilders ($1.17) to 2.17 guilders ($1.21).
A public notice announcing the adjustments signed by Minister of Tourism, Economic Affairs, Traffic and Telecommunications Franklin Meyers states that the political unrest in the Middle East, specifically Libya where the largest crude oil reserve in Africa lies, and the recent tsunami in Japan have led to a 20 percent increase in crude oil since last month leading to “steep increases in ULG and Diesel prices. In the case of Libya the unrest has led to export routes being cut off and the Japan disaster has helped to send the demand for oil to the peak levels seen in 2007.
A check with international markets shows that crude has climbed to US $106.72 a barrel for light, sweet crude in New York and $117.36 for Brent North Sea Crude, which trades out of London, England.