St. Maarten fuel prices increase further today

POSTED: 03/6/11 9:28 PM

St. Maarten – The prices of unleaded gasoline and diesel increased today, Sunday, March 6 from currently 2.17 guilders per liter to 2.25 for unleaded gasoline, and diesel from the current 1.98 to 2.04 guilders per liter, according to the Ministry of Tourism and Economic Affairs, Traffic and Telecommunications.

Gas prices across the Caribbean region are also on the increase.  The current unrest in North Africa has sent prices soaring in all transportation areas. Gasoline has climbed more than 29 cents per gallon in the United States since the uprising in Libya began in the middle of February, costing Americans an extra US$108 million per day to buy the same amount of fuel.

Prices fluctuate on a daily basis on the oil traders market. Earlier this week global prices reached a two-year high sending prices of oil over US$100 per barrel. This is significantly higher than the US$84 per barrel back in December. 

The International Air Transport Association (IATA) has trimmed its forecast for airlines’ net profit this year, due to the soaring cost of fuel. Airlines have already started to increase fuel surcharges to passengers, and some have warned they may also raise basic fares or be forced to cut capacity.

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