WILLEMSTAD – Motorists in Curaçao will face significantly higher gasoline prices starting Tuesday, June 2, following a substantial increase announced by the Regulatory Authority of Curaçao (RAC). The price of gasoline will rise by 26 cents per liter, bringing the retail price to 2.75 guilders per liter.
According to RAC, the increase is directly linked to the ongoing disruption of shipping traffic through the Strait of Hormuz, one of the world's most important oil transit routes. The strategic waterway, located between the Persian Gulf and the Gulf of Oman, is responsible for transporting a significant share of global crude oil supplies. Continued blockages and tensions in the region have pushed international oil prices higher, leading to increased fuel costs for consumers on the island.
While gasoline drivers will feel the impact of the price hike, diesel users will see some relief. RAC announced that diesel prices will decrease by nearly 9 cents per liter, bringing the new price to 2.48 guilders per liter. The reduction is attributed to more favorable international purchasing agreements that have lowered acquisition costs despite broader volatility in global energy markets.
The latest fuel adjustments come as households and businesses continue to monitor rising living costs and international developments that affect the island's economy.
In addition to changes at the gas station, RAC also announced new utility rates. Electricity prices will increase, with consumers paying nearly 76 cents per kilowatt-hour starting Tuesday. The higher tariff reflects changes in energy production and procurement costs.
Water customers, however, will benefit from a small reduction in rates. The price of a cubic meter of water will decrease slightly to just over 15.41 guilders.
The new fuel, electricity, and water tariffs were officially announced by RAC on Monday and will take effect on June 2. The adjustments highlight how international market developments continue to influence the cost of essential goods and services in Curaçao.