Third price hike since August 29 – Gas prices jump above $1.50/liter today

POSTED: 09/19/12 1:48 PM

St. Maarten – For the third time since August 29 the price for unleaded gas will go up by 12 guilder cents. Starting today, motorists will have to pay 2.70 guilders ($1.508) per liter at the pump instead of 2.58 ($1.441).

On August 21, Minister of Economic Affairs Romeo Pantophlet signed two decrees for the increase of gas prices in two steps: from 2.34 guilders ($1.307) to 2.46 ($1.374) per August 29, and to 2.58 ($1.441) per September 4. All this time the price for unleaded gas on the French side at Cadisco gas stations has remained steady at $1.34.

Pantophlet cites “developments on the international crude oil market and the ongoing fear and speculations about the continuing international situation involving Iran and the Middle East, which could result in diminishing crude oil supply” as the reasons for this third price increase.

The decision about the third price increase was taken five days ago, on September 14.

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