WILLEMSTAD – Opposition party MAN-PIN is calling on the government to reduce fuel taxes in order to limit potential increases in gasoline prices on Curaçao.
Faction leader Giselle Mc William said the government should prepare measures now to cushion the impact on residents, as international tensions and conflicts in the Middle East could push global fuel prices higher.
According to Mc William, rising international oil prices could quickly translate into higher fuel costs on the island, which in turn would affect the broader cost of living.
MAN-PIN is proposing that the government reduce the excise tax on gasoline or temporarily remove one of the turnover tax components applied to fuel.
The party pointed out that a similar measure was introduced in 2022 during the war between Russia and Ukraine, when the turnover tax on gasoline and diesel was temporarily abolished to help contain inflation.
At present, the excise tax on gasoline stands at approximately 41 cents per liter. In addition, a 6 percent turnover tax is applied at the wholesale level and another 6 percent at the retail level.
Mc William also urged the Central Bank of Curaçao and Sint Maarten to study different scenarios regarding the possible impact of rising fuel prices on the cost of living.
According to MAN-PIN, increases in gasoline prices could also lead to higher costs for electricity, water and transportation, further increasing the financial pressure on households across the island.