French St. Martin to increase gas marginPOSTED: 11/3/14 7:41 PM
MARIGOT/St. Martin – The Territorial Council of the Collectivité will be initiating efforts to collect their margin on the gasoline in taxes from the Petrol Stations. President of the Collectivite Aline Henson said in an interview following the Territorial Council meeting that in their investigation they have discovered that the Petrol Stations, although purchasing the bulk fuel at a far lower price in the United States Virgin Islands and in some cases South America, are selling it at a similar price as St. Maarten.
She pointed out that even though there are only a few Petrol Stations on The French Side of the island, the disparity in cost between the companies is huge and the difference in prices is as much as thirty cents Euros. “There is a large margin made by the importers and the different companies who are distributing the fuel,” said Henson.
She stated that “at some service stations motorists could purchase the same fuel at 0.96 Euros and at others at 1.25 Euros per liter. This means that there is definitely something going on in the market. To ensure that the Collectivite get their margin they have increased their margin from 6 cents Euros to 12 cents Euro.
She indicated that “if a company is selling their merchandise in exchange for the same price as the US dollar it is clear that the company is making a huge profit. The Collectivite is now soliciting the services of the Customs in France to come and have this situation regulated.
Meanwhile, Senator and Vice President Guillaume Arnel has stated on the television show In Depth with Andrew Bishop that he calculated the increase will yield some 2.8 million Euros extra to the coffers of the Collectivite annually.