Suriname fuel among most expensive in region

(De Ware Tijd) PARAMARIBO – The fuel price in Suriname is now among the highest in the region. Within six months, Suriname moved from fifth to third place in the Caribbean when it comes to the fuel price paid at the pump. While the average price was US$ 1.07 (SRD 3 at an exchange rate of SRD 2.80) per liter in 2010, this increased to US$ 1.40 (SRD 4.55 at an exchange rate of SRD 3.25) in the first six months of 2011. This is apparent from recent figures of the Caribbean Energy Information System (CEIS). Of the first six months of the year, May was the most expensive at the pump with a price of US$ 1.55 (around SRD 5) for one liter of unleaded. Trinidad is still the cheapest market for unleaded fuel with a price of US$ 0.42 (SRD 1.60) per liter since 2009. Fuel is the most expensive in Barbados (US$ 1.59), followed by Belize, Suriname, Bahamas, the Turks and Caicos Islands, Jamaica, Guyana (US$ 1.08) and Trinidad. Suriname could become the third cheapest fuel market in the region if the government take on the fuel price (around SRD 1.50 per liter) is abolished. The average price for the first half of 2001 would be around US$ 0.94 (SRD 3.20) then. Minister Michael Miskin of Trade and Industry (HI) believes fuel prices at the pump should not be compared just like that. “Our entire fiscal policy should be considered as well. The tax situation in the other countries should be looked at too before such comparisons can be made”, says the Minister, whose Ministry sets the fuel prices.