WILLEMSTAD - The international prices of crude oil and fuel continue to rise, leading to an increase in prices on Curaçao. Minister Ruisandro Cijntje of Economic Development has announced a 13-cent increase in both diesel and gasoline prices for September.
Starting from next Tuesday, August 29, drivers will have to pay 2.44 guilders at the gas station, while diesel users will be charged 1.74 guilders per liter.
Crude Oil
Up until now, international crude oil prices have been on the rise since July. In comparison to July, the price in June also significantly increased, averaging around $76 per barrel. For August, it is expected that the price will further rise to an average of about $82 per barrel.
Component
The increase in fuel prices is not solely due to the international purchase price but also to the contribution of the fuel security component, which was reintroduced in July.
The Council of Ministers had decided that Curoil and RdK would temporarily prefinance the operational costs of this component. This temporary prefinancing concluded in June 2023, and the component was reintroduced gradually as part of the fuel price.