|
News from the Caribbean as of
|
Fuel prices in Suriname fall by 12 percent
Saturday, October 7, 2006by Ivan Cairo
Caribbean Net News Suriname Correspondent
Email: ivan@caribbeannetnews.com
PARAMARIBO, Suriname: Following a government decision to drop fuel prices, Surinamese citizens are now paying less to fill their gas tanks.
Trade Minister Clifford Marica announced the 12.7 percent price drop for gasoline on Thursday during a press conference. Motorists will now pay 5.7 percent less for diesel, which is now sold for US$0.97 per liter, down US$0.06. The price of gasoline is about US$0.98 per liter, down US$0.14.
The decision came after the sharp drop of fuel prices on the international market. In September 2005 the government terminated all subsidies, which kept fuel prices at a fixed rate for several years. Fuel prices then went up by 100 percent. Following the price hike on the international oil market last year it was decided to change over to a floating price structure based on the actual oil price.
Friday morning there was an unusual rush at gas stations as motorists tried to exploit the new situation as early as possible. Minister Marica said he hoped the international price drop will continue, which in return should have positive effects not only for the Surinamese economy but also for the rest of the world.
Although price hikes due to rising oil prices take effect at a much faster rate than price cuts, the minister expects that prices for consumer items and services will also drop. The Trade Minister appealed to shopkeepers and store owners across the country to follow the trend and drop their prices.
Most popular articles: viewed, printed and e-mailed
